Cathedral Energy Services Ltd CETEF

Resource Equity Partners Reaffirms Need for Change at T.CET

[jenkinjt]

Resource Equity Partners Reaffirms Need for Change at Cathedral Energy Services Ltd.

 

Resource Equity Partners

Tue, June 27, 2023 at 8:43 AM GMT-2:30 ·8 min read

 

 

• Cathedral remains significantly undervalued due to ongoing leadership issues, governance concerns, and flawed strategy.

• Cathedral's share price has declined rapidly from its 52-week high of $1.52 in January 2023 to $0.57 / share, well below its April 2022 private placement price of $0.70 / share.

• Cathedral misses consensus street EBITDA estimates by $12 million in Q1 2023 despite having 5 certified Chartered Professional Accountants on the Board and Executive; currently being covered by 5 reputable investment banks.

• Board and Executive are misaligned with shareholders; shareholder capital is being further eroded to advance Board and Executive entrenchment.

• Resource Equity Partners believes a more effective Board and Executive can unlock substantial upside over the current share price and reinforces an actionable path to $2.50+ per share.

[C32BTT]

I'm wondering how much of what he is saying is not him being disgruntled he got fired?  If you search on linkedin, Chad was CFO before being replaced for some reason.  CET has always traded below PHX, I think most of CET shareholders are more transient than PHX.  If this company had more long term investors and not retail traders this stock wouldn't jump up and down so