RE: RE: RE: RE: RE: RE: Pretty funny stuff...Anyone know why i am having such troubles posting on stockhouse? simply cant even get a hold of the text box. wierd. the entire site is in disrepair.
OK so onto LakeSide.
I spoke to C'level management this week. CFO is on vacation.
First pipe came out of the alabama plant and construction moves forward on the other mills on ahead of schedule. Pipe demand remains steady and steel prices have stabilized. Welland turned back to a profit this current quarter.
In addition, they changed over reporting to some other standard which means the have to expense their construction cost and that they arent holding them as an asset but expenses. So they will have a non cash loss over the next couple of quarters. I didnt fully understanding the reporting measures.
Their cash remains steady, with another financing in the works as disclosed. Lastly, their debt is against trades recievables, inventory, and work in progress (WIP), so no real debt issues as they are mostly accounted for.
Everythings sounded on track so I have no idea what the HALT in trading is for. It cant be bad that is forsure. If it was due to the falling shareprice, than the TSXwould require them to issue a statement saying that they have to say "no reason why share price is down, business as usual." but that isnt the case either.
So no bad news, and nothing to do with shareprice. It has nothing to do with financing as that was already announced, so why halt it? They wouldnt. Doesnt have anything to do with Vic because Northern Fin and Jaguar arent affected in this matter.
Could Vic of lined up a buyer for the company? A take over? A merger?
I dont know but it is either nothing, or something extremely exciting.
Shall see!
ReduceCo2