RE:RE:RE:BAZOOKA: MEG BUYS & CANCELS $ 105 Million 7.125% 2027 Notes- we will be THERE BEFORE ALL the USD 153.2 million 7.125% 2027 NOTES are REPURCHASED and CANCELLED
- the REASON is SIMPLE:
- CASH BALANCE on HAND
CASH @ 12/31/2023:
* C $ 160 million of WHICH USD 102 million was in US DEPOSITS
- at the VERY LEAST, MEG will CARRY C $ 100 million on the CASH BALANCE SHEET on 3/31/2024 {which is ~ USD 74 million}
- so I 'FORECAST' that MEG will ATTAIN their USD 600 million NET DEBT TARGET in Q2/2024 assuming CURRENT STRIP PRICES
- NOW you know WHY the share proce of MEG is OVER $ 30 per share
- STRANGE that the CEO KNEW THIS and SOLD a LARGE CHUNK of his MEG HOLDINGS {I guess that he DID NOT WANT TO TAKE ANY RISK for his RETIREMENT that he WORKED SO HARD FOR}
z173