FundamentalsFundamentals of this play support a minimum SP of 0.20. Projected 24 million revenue this year with positive EBITA. Might seem like I am beating the drum, however IMO it is not a question of an "if" scenario... and the question of how far away is the "when"... L2 suggests it is a short term horizon.
There was no requirement for a material disclosure. All the relevant data is right there in the MD&A.
Debt has been refinanced and new fleet added. Projected 2 mil rev / month which makes rev /q 6 mil.
What we don't have is revenue projection in light of the fact that they've augmented the size of their fleet. An argument can be made that the current projection of 24 million is conservative. Add that to the fact that they've looked at alternative revenue sources and the potential is very strong.
"The Company is actively pursuing projects outside of drilling operations and has initiated a research and development project which involves the transport of unstabilized drill cuttings. A prototype unit was built and trialed during the month of February with successful results." 2017 projected EBITDA $619,594.00.
GLTA & DYODD