GREY:BXEFF - Post by User
Post by
RichyRich$on Mar 30, 2019 11:18pm
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Post# 29559859
CEU has 1.0 P/B $75M CF and $490M Debt!
CEU has 1.0 P/B $75M CF and $490M Debt!Worse debt than BXE and same cash flow... but shares trading at book value. BXE did adjust the true book value big time this quarter. It used to be $12.00 before this quarter and now $8.31! I'm basing it off that new true book value of $8.31. Then add $110M less debt now 81M shares = $1.36. Add that to $8.31 = $9.67. Multiply by 16.5% our new portion = $1.60. So I am basing it off of the new book value that was lowered by 1 third after the annual report. Take a look at CEU on TSX. Only $75M cash flow like BXE now and it has $490M debt! And no cash. Yet its trading at book value per share! My point being... with BXE improves balance sheet now... and sector rebound bull cycle starting... it's not pie in the sky to suggest we get back to the new common share holders book value of $1.60! Based on the new 1 third lower book value ... up to date and realistic book value.