Would have liked to see a cash flow forecast but assuming $45mm (a ~17% bump to Q4 2023 run rate estimates) there is about $20mm of free cash flow or a 20% FCF yield. When factoring in the cash on the balance sheet, TNZ is trading at less than 1.0x cash flow or 2.0x FCF. Plus there is no consideration for the CCS project which could be huge ($66mm in net credits to Tenaz annually once developed
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