Trades last few daysA lot of small trades (100 - 200 shares) over the last few days. I expect once they clear we build a base. Nice report from Cormark as well - Thxs for posting -
Seeing a NAV/sh over $10 in there if they can manage 50% debt in the capital structure. A report like that could set them up as a take out target with 4X upside to the acquirer. Worth holding.
"A more efficient plan would be to build Phase 1, finance each 50 ktpa expansion, some of it with debt or offtake pre-payments over time. In such a scenario, the full 3x50 ktpa would bring the NAV to more than C$1 B and the NAV per share to C$8.60 with 50% debt leverage. Furthermore, using 8% once the projects are in construction and financed our NAV would be C$1.3 B and the NAV per share of C$10.50."