If you look back Algar was probably fully funded with cash and cash flow until the price of oil collapsed from $147 to about $35 and the price of bitumen went to zero. Also I remember the company cancelled its credit lien because it was interconnected with its long term debt and the banks would not renegotiate the facility even though it was not drawn so there was no choice but to inject mroe money and to get enough the company had to sell equity and also raise new bond money inthe USA.

I belive Mr. Gusella resigned. People do have contracts and you live in a dream world.

The rest of your analysis is poorly founded if you know anything about tax and other considerations. Take a vacation.