Tim McElvaine MentionGiven the low free float of Maxim and small market capitalization, it doesn't get much of a following from institutional investors.
One fund that does own some shares is Tim's fund. His most recent commentary suggests Maxim would have about $1 in cash and be able to generate about $1 per year in free cash flow in an "average" year.
If Tim is even remotely in the ball park then you don't have to be a mathematical savant to conclude that the shares are very cheap at the current price. Not to mention the potential "call option" type upside related to Prairie Lights or the Coal assets.
They need to get a refinancing out of the way and provide clear intentions on what Maxim wants to be when it grows up. Pursuing a growth mandate with the cash is fine. Selling the company is fine (at the right price). Right now though the Company is in pergatory.
Happy Friday and happy accumulating!
LR