OTCPK:TNGZF - Post by User
Post by
pierrelebelon Nov 21, 2017 5:50pm
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Post# 27007213
Q3 results
Q3 results [url=https://web.tmxmoney.com/article.php?newsid=5558809822162354&qm_symbol=GRC ]link [/url]
2017 Third Quarter Financial Highlights
- Royalty Payment and Interest Income of $1,187,000
- Adjusted EBITDA(1) of $556,000
- Free Cash Flow(1) of $166,000
“For the fifth time in the last six quarters we generated positive free cash flow in the quarter. The core of the portfolio continues to perform, which together with the cost discipline we’ve implemented, provide a stable foundation for future growth,” said Steve Parry, Chief Executive Officer of Grenville. “At present, the markets are valuing the business at 33% of book value despite the portfolio generating positive free cash flow, the potential for additional contract buyouts and the improved portfolio performance. The pipeline is as strong as it’s ever been and we screened more opportunities in the quarter than ever before.
While the timing of new investments has been lumpy recently, we remain confident in our ability to access high-quality opportunities based on the existing pipeline. In the interim, we are building our cash position – which is ready to deploy – and we are being vigilant as we select the best opportunities for our next round of investments.”