OTCQX:CGTFF - Post by User
Comment by
AltaRounderon Jun 02, 2017 7:44am
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Post# 26315289
RE:RE:RE:Take over when?
RE:RE:RE:Take over when?
Found it interesting that Nord operations have seen negative "free cash flow" in Q1. From what the financials say, looks like corporate purposes means, primarily, that they needed cash to execute the GDR share buybacks. It said that they now own 84% at Q1's end and spent 92 million. Another tidbit worth noting is that only 5 of 9 mines were cash flow positive.
If they plan a cash offer for CBG, they will certianly be in touch with Bankers frequently over the next couple years, given they also have to build it!
Operating cash flow of US$56.2 million in Q1 2017 and negative free cash flow2 generation of US$7.9 million mainly due to a temporary movement in working capital.
Cash and cash equivalents (including short-term deposits) as at 31 March 2017 were US$250.2 million with net debt of US$677.7 million, compared with US$365.3 million cash and cash equivalents and net debt of US$588.2 million as at 31 March 2016.
In March 2017, Nordgold closed the GDR Buyback process of the Tender Offer. A total of 28,763,465 GDRs of the Company for the total amount of US$99.2 million were validly tendered under the Tender Offer.