TSXV:ORC.A - Post by User
Post by
downwithdotcom1on May 18, 2021 7:24pm
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Post# 33227404
Q1 results out..just OK..no material news..
Q1 results out..just OK..no material news..revenue slightly up ,cash flow , profits down - mostly because TANESCO only paid $800k toward past receivables this quarter. Compression upgrade moving along "on budget, on time" . Absolutely NO news on business prospects, PSA discussions (could be early). Company has $68 mill+ USD cash on hand, using 1.2 cdn conversion and 20 mill A+B shares..thats $4 A SHARE CASH ON HAND. Yes, long term bank debt still $54+ mill , but TANESCO still owes $26 mill .
Also, ORCA has INVESTED LARGE on the contract for compression - its $38 million of which $24.7 million was incurred prior to 2021 with forecasted expenditures of $9.5 million for 2021, upon delivery and inspection of the equipment, and $3.8 million for 2022 following installation and testing. This allows for a massive expansion to as much as 170mmcfd IF WE HAVE A CUSTOMER (new gas line??) and A NEW PSA..imagine the cashflow?? Yet , here we are $5.60 ish per share - just no faith that business can be conducted in TANZ..dwdc