It seems that a few investors are noticing what Blindpig and i know about this small
company.
Like i wrote previously, the value of their tax assets is worth more than the value of the share price.
When buying at these levels, you are getting all of the assets of the company for free.
The market value of their rigs are worth more than $8(conservative numbers).
If we believe management and that 2025 will be an even better year than in 2024 then
Akita will/could earn north of 70 cents/ shares(that's a current p/e of 2.3)
Akita is currently running it's Canadian operation at 71%.At these levels, they are VERY PROFITABLE.Can't remember were i read that they would be running 11 to 12 of their
15 rigs in the USA in the Q4 and probably even better in 2025.
If they are able to run at these rate in the USA in Q4(That's 73 to 80%),Their results are
going to be spectacular.
I have a feeling that some investors knows these numbers and are buying shares before the
news gets know from the general public.
See the 10 and 32 years chart below.
The stock as been in a base formation since 2019.
These formation are very powerfull once broken on the upside.
The company is reducing it's LT debt just like it said it would and if they elect to do so
will/ could be debt free in late 2025 or early 2026.
Will they keep a small amount of LT debt and by back shares or bring back the dividend or a combination of the 3.We will find out shortly.
Akita will be reporting Q3 in about 4 weeks.
Nice day to all
