GREY:VFGGF - Post by User
Comment by
ofirmeon Jan 20, 2014 6:47pm
256 Views
Post# 22113250
RE:RE:RE:This stock won't move
RE:RE:RE:This stock won't move The total money raised by pinecrest was $290M. much more than I thought. that was canadian
money chasing speculations and buying at an average of close to $2 per share.
If the company spent $5.4 x 50 + $3.4 x 25 = $355M on wells and of which $130M was debt and
they had cashflow of $150 up to YE2013, how much of a return do you think the market expects
the wells to yield to justify $0.6 per share ($265M enterprise value)?
Answer: not even a full return of the capital.
There is nothing dummy about buying cheap. the dummies bought at $2.0 per their analyst advice.
most of them were not americans.