High Arctic Energy Services Inc T.HWO

CIBC dumping

[colourama]

The two high volume days (192K and 100K today) seems to be mostly one unhappy CIBC dumping. The selling behaviour doesn't make sense to me: there are justified criticisms of management, but why sell like the sky is falling?

Even if the mood towards the stock is gloomy, I don't get it. The marketcap is $50 million. They have $42 million in net cash (as of January). Is the rest of the company removing net cash only worth $8 million? Is the outlook so dire?

[blackwolf25]

I mentioned a few weeks back, things were about to get incinerated.... remember always market irrationality has more staying power than your solvency. So we suffer, again.

[AVALONSHARK]

The market is simply reacting to the lack of revenue generating options for the company. For a public company they really have nothing to show except a single rig running in PNG. Who knows when the others will be deployed, if ever. If deployment happens in 2025, then they will have to burn cash for 2 years to stay afloat. Selling the canadian business with no plans of redeploying capital was not

[Stonksonlyup90]

They aren't 'burning cash', refer to their guidance on the last conference call - they expect to be modestly positive on a cash generation basis (slight loss for accounting because of depreciation). They also have this money in savings yielding 4-5%. However, your other points are correct.. Absolutely pathetic for a company to be sitting on 100% of their Market Cap in a Savings Account

[JonathanJSmith]

I agree that their cash burn is a moot point. They'll be able to stay afloat for quite some time with one rig running. Maguire also mentioned that there was improving demand for their mats, and other rental equipment (50%+ margin). Perhaps their ancilliaries will help pad their bottom line so that book can slow its descent. Notwithstanding, I'm waiting to hear about new stock options and

[Possibleidiot01]

Wish it was 0.05 every month "a monthly dividend payment of $0.005 per share to holders of common shares" Done that decimal thing myself

[Stonksonlyup90]

Some irrational selling going on here.. any time it starts to trend in the right direction CIBC sending it down. Something could be in the works, trying to push it down for a cheaper buyout price? Risky game to play

[colourama]

CIBC still at it today I notice - they let a bid build and then sell into it straight down to the $1 level. I wonder how many shares left they have to keep doing this.

[Stonksonlyup90]

Last year High Arctic reported May 12th.. my hunch is that CIBC keeps at this leading up to earnings. Substantial issuer bid, special dividend or take private in-coming? 

[colourama]

CIBC antics not withstanding, I am adding at these levels. I guess we will see if this turns out to be a good decision or not, but the risk/reward seems favourable (imo).

[AVALONSHARK]

Basically the market is saying....the business is worth nothing, even the cash is worth less than on the books.....reminds me of March 2020....when the stock was selling for 55 cents, it was still higher than cash value..... Either someone important knows something that nobody else knows (Papua LNG FEED to be cancelled or something).....or this is a generational opportunity...no other way to

[Stonksonlyup90]

Even if the Papua LNG is cancelled/temporarily shelved (which I highly doubt), this stock is now trading at a NEGATIVE Enterprise value! Clear sign being sent to management. Somebody is playing games here. $2.00 buyout sounds better at a 100% premium, than at a 43% premium (which it would have been at time of last Financial Release when stock was $1.40 or 40% higher than today!!)

[AVALONSHARK]

papua-lng-looking-at-6000-employees-for-construction-phase Papua LNG IS progressing well. Now im sure this is some kind of manipulation going on, no other way to describe this action.  Someone should ask about this during Q1 call later this month. 

[JonathanJSmith]

OMG - the pimspng site is up and running - who'd have thought? Let's hope HAES gets a chunk of that "6000" personnel requirement. It's ridiculous what's happening to this stock. "Raise the divvy, use the NCIB, and paycuts across the Board!"

[colourama]

CIBC at the close knocking it down to the 52 week low. Anonymous contributing to the tanking by taking out the 50K share bid at 0.99. They are literally losing money on the share sales. HWO could pack up its entire operation tomorrow, have a fire sale selling its assets for pennies on the dollar, and we would I believe still come out well ahead from this level. Will they start selling for less

[AVALONSHARK]

Can it be Cyrus liquidating it's position as anonymous and cibc ? I have been keeping track of the total number of shares sold by both these sellers over the last two weeks (more than a mil shares) and no individual owner owns so many shares except the chairman. Atleast not mentioned in the last annual report.

[colourama]

Wouldn't that trigger a mandatory report on SEDAR if Cyrus was selling? Since they are a > 10% holder, can they buy/sell without public knowledge?

[colourama]

 ...sorry, I think it would be SEDI, not SEDAR (one of those at least!)

[Stonksonlyup90]

I don't think it's Cyrus, wouldn't make sense for them to be selling at such a low valuation (basically below cash).

[40YardLine]

I figure this sell off just a readjustment of risk by the Institutions due to the Canadian asset reduction. as a long team holder, it’s just a cheep way to top up my holdings.   If you are not willing to risk the unusual, you will have to settle for the ordinary. – Jim Rohn

[Possibleidiot01]

Tremendous quote