GREY:MKRYF - Post by User
Comment by
jerrybeon Sep 17, 2015 4:12pm
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Post# 24113561
RE:National Bank
RE:National BankProbably...this has happened so many times with this company...not even funny!
Reading the September presentation, one realizes that they have really not sat idle in this crisis. If anything the amalgamation of deals has transformed the company once again. It is exciting to see what they COULD become. Communication is truly awful...they certainly need a much stronger capital base.
I really do not want anyone to come and acquire them. They would never put more than 100% premium for them and even then, most of us would be massively underwater.
A JV with a private equity firm seems ideal to me. If prices can go back up to $50-$60, I am sure we will garner some interest. Supposedly, we have some nice IRRs even at the current price deck...obviously, one needs to take those IRRs figure with a big pinch of salt!!
Still holding. Wanting to average down once more but with such poor communication, I still favor other small caps (e.g.: LNREF). Much more debt but much better managed IMHO.