RE:Canaccord Genuity comments on Eldorado Gold CorporationstockM,
Thanks for the post. Canacord mentioned ELD "debt" in the last line (under Valuation), but did not mention the amount.
According to the following link
https://www.nasdaq.com/symbol/ego/guru-analysis/graham#/anchor5
Excerpt:
"For industrial companies, long-term debt must not exceed net current assets (current assets minus current liabilities). Companies that meet this criterion display one of the attributes of a financially secure organization. The long-term debt for EGO is $591.0 million, while the net current assets are $1,111.7 million. EGO passes this test." (This is from Nasdaq, hence everything must be in USD, presumably).
Anyhow, it looks like the
net cash is something like $0.5B in ELD war chest.
Would that be good enough for the rest of ICG? Presumably ELD would try a share conversion option first to conserve the cash.
GH