GREY:CLLZF - Post by User
Comment by
strzelinon May 16, 2012 12:41pm
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Post# 19916049
RE: RE: Disappointing results
RE: RE: Disappointing results pablo,
There is no pending sale of CLL conventional assets as you suggested. CLL open their books and seeking a non biding proposal to sell their working interest (?) in some JV properties they have at Three Hills, Twining...
The proposals are due by May 16, 2012. There is no pending sale because there may have no interesting parties. $50M is not a cash as you suggest, it is a 10 % of NPV with NG conversion 6 to 1. Monetary conversion is closer to 60 to 1 and these properties are 57% NG which nobody cares to own.
$79M inventory (part of the Current Assets --$192 M) has to be reconcile with Current Liabilities of $194M. It is a part of accounting .
Remember CLL need $141 Million before July 31.
When the dust settles the inventory will be sold for garage sale prices =:)