RE:RE:AcquisitionSo Insider, you now say it was just a rumour, colour me surprised. After all your pi$$yness about being called out on spreading rumours, even more surpirsed you had the stones to admit it. As far as the sale to Cathederal, that happened more than 4 months ago in Oct 22, was only a $5 million dollar transaction and they swapped the horizontal gear for Shares in Cathedral, so that did zilch to strengthen their balance sheet. You may want to learn how a balance sheet actually works.
Like I said before, I see $7 as in range, not seeing $9 any time soon.
Insider wrote: Sorry guys it was just a rumour. Ensign now has a stronger balance sheet with sale to Cathedral. Additionally with strong cash flows and debt reduction is expected to bounce back to levels seen in 2017-2018.
That is why ATB raised its price target to $9
Without any dividend or shares buyback, the positive cash flows from stronger demand there is no doubt that this could reach $9 on its own by May-June this year.