RE:Dumb Dani, Doesn't Seem to Kniw Canacol Profitable. 😄😃LolI guess it depends on what someone considers a profitable company. CNE needs to show investors it is capable of whittling down their debt load in a systematic manner in order to gain the confidence of the market. That comes from increasing production to more than the high teens. Been there done that isn't going to wow many investors. Folks have been waiting a long time to see them crack the 20,000 boed and in my view, the mid 20's is where they will really get serious notice from both new investors and fund managers as a long play. That is assuming a shareholder's goal is a $10 share price?
June 30. 2016
Bank debt principal
$255,000,000
Working capital surplus
(39,593,000)
Net debt
$215,407,000