GREY:TMPHF - Post by User
Comment by
Soyousayon Aug 11, 2016 12:53pm
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Post# 25131453
RE:Market hated the quarterly report
RE:Market hated the quarterly reportI don't see it that way. Reviewing both Temple's quarterly report as well as Morguard's, I would suggest that the "future" is bright. They have a $6M revolver with Morguard that they have not used. They are awaiting the decision on insurance claims for Fort Mac. All hotels are in operation in Fort Mac except one. If you look at the rates per night, they are high relative to comparable hotels in Calgary by about 20%...this is based on market demand from the fires and flooding. They are in discussions with all lenders re renegotiating their mortgages and have made some progress so far. No debenture payments are due for sometime. Their cash burn is getting under control with Morguard assuming management. And the CEO of Morguard is a Canadian business leader with a background in economics and accounting. Plus, Morguard owns 40% of the shares at $1.54 per share.