financials out later Will reflect $49.25 million due to sale of private forest land.
Throw in $94 million from the sale of the two Quebec mills next quarter and there should be a market cap that is 80% or so ,cash.
"On September 23, 2022, the Company entered into a credit agreement with a tier-1 Canadian bank for up to $140.0 million consisting of a term loan of $15.0 million and an asset-backed revolving credit facility of up to $125.0 million (collectively, the “Credit Facility”)"
"At September 24, 2022, the Company had $83.4 million of borrowings under its Credit Facility, net of deferred financing costs. The Company’s Credit Facility contains restrictive covenants that limit the Company’s ability to undertake certain actions without the lender’s consent, and it also includes the following financial covenant tests performed quarterly: a minimum fixed-charge coverage ratio and a maximum annual capital expenditure amount relative to budget, all as defined in the Credit Agreement. The Company monitors its performance monthly as well as its future performance expectations, adjusting as required, so it remains in compliance with these covenants. The Company was in compliance with its covenants under the Credit Agreement as at September 24, 2022."
Seems to provide a margin of safety for an investor? unless they do something hasty and ill advised.
Do this company have any analysts covering?