RE: RE: news out, property sale I have total debt at $185M 89M (bank plus cap deficiency) + 96M (conv debs)
shares outstanding are 172M
I do not know how you got to $400M for total assets. What was AXL saying the total assets
were worth in their old NAV calculations? Higher than $400M I think but do not remember.
Anyway (400 - 185) / 172 = $1.25 per share.
They seem to have gotten a good price on the asset sales and are not in excess of the
Sept. revised bank line of $90M.
A few more good sales would be nice to see as it would give them cash to continue with a
decent Cardium drilling program.