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Tuscany International Drilling Inc T.TID



TSX:TID - Post by User

Post by dbeaudeon Aug 17, 2013 5:31pm
265 Views
Post# 21678734

Thanks for the work you are putting in....

Thanks for the work you are putting in....Thanks for digging in Veronika! These appear to be two fine examples of comparable companies from a debt to EBITDA perspective and yet trade very much higher than TID. I must say that the HRT fiasco and the Nimrods at Fidelity dumping millions of shares have done its damage. When a stock is beaten down it is hard to get a re-rating particularly when the company has no working capital. If they can have a few breaks like collecting two of the three major receivables, get the heli-rigs sold or working and stabilize operations at a 80% utilization rate they would be trading likely at three times the current share price.....hence the terrific opportunity for a 2 or 3 bagger. They just need a couple of things to go their way. Surely to goodness they should be able to refinance their debt at a longer amortization period and better interest rate. The security is the market value of the assets. They are marked in the financials at over $600 million. Surely these along with a forward EBITDA of $70 plus million should be a lending institution a level of comfort that their capital is secure.
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