RE: 2.20!!https://www.mffais.com/stock/vero-energy-inc.html
Two large sellers of VREYF.
When you have a relatively small share float and one or two institutions want to sell, the price movements are exagerrated.
It still surprises me that in 6 months the financial condition of the company has deteriorated so much. Thats what happens when your capex is double your cash flow and management is to blame for not putting on the breaks earlier in the year.
I did not see any adjustment in the bank credit line which was supposed to be up to redetermination this month. So, at 170mil, they still have about 20mil or so room to breath before they are up against it.
I hope they are able to dispose the Whitecourt properties very soon, but time has past by about a month for the bids to be submitted and still nothing.