GREY:STPJF - Post by User
Post by
whatabuckon May 10, 2014 10:56am
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Post# 22547293
Need the sale
Need the saleDeclining Senlac production, stagnant STP production, running out of money and options. If an outright sale isn't announced by the end of the month this thing will remain a penny stock, a Connacher if you like. Management has told us that it is not prepared to put out any cash to fix the problems. Unless a white knight steps up and takes control (50% plus), come June 1 Southern Pacific will be run by banks and accountants. IMO adamsight's evaluation is high. Both Senlac and Mackay have not been brought up to expectations and potential suitors will have to spend a whack of cash to get it up to snuff. My numbers would expect a discount of 70% and a bottom line share take over price of 25 cents.
First steam was July/2012, we are now 23 months into it with only 33% of target achieved. Management told us up to 18 months for conformance to 6000bb/day. Hope for a sale, I think its the only way out.