PRD Energy Inc PREGF

RE:RE:RE:RE:cash distribution

[Method]

Malpeque2 wrote: Sorry about that.   When are we going to get a Christmas present or some such from Becker Milk?

They have been considering "strategic alternatives" for about 5 years on and off.    The leases on their Circle K locations have been month to month for years now also.......

G&A as a % of operating income for their properties is surely excessive.

Do you see any more cash boxes in Canada or U.S    Method?

 

I gave up on Becker a few years ago which probably means a deal soon!

ELF.TO E-L Financial is super cheap. Management has bought back about 30% of the float this year. Trades for 760, while liquidation value is more than double. It's effectively 25% life insurer (Empire Life) and 75% global stock portfolio so its market exposure at a huge discount to fair value.

TII.V and CRWN.TO also trade at a 40-50% discount to NAV. Both are lenders/asset managers. TII is trying to grow while CRWN is buying stock back aggressively. 

My fave position for the next two years is not a cash box at all but LATAM tech play called Atento (ATTO.N). Stock is too cheap at less than 4x EV/EBITDA for a market leader (#1 market share in LATAM in a globally consolidating industry) and with the fundamentals improving for the first time in years, it could get revalued up to 8x by 2022. That would take the share price from ~$13 to ~$80. Even if it doesn't get all the way there, there is lots of money to be made.