Post by
Possibleidiot01 on May 13, 2024 6:32am
Liquidity and Capital Resources
Wondering how they break the money between the two companies.
"As a result of receiving the cash proceeds of the Sale Transactions, the Corporation had working capital of approximately $62.7 million which included a cash balance of approximately $50.4 million as at December 31, 2023."
62.7 minus 38.2 return of capital gives $24.5 million of working capital to be divided
or $12.5 million in cash and another $12.3 million in working capital (equipment etc.).
Very clear positive announcement other than a breakdown of which company gets what
Comment by
longrun86 on May 13, 2024 9:25am
I haven't had a chance to go on Sedar yet but I was expecting this to be covered in the Fairness Opinion. They could do an 18 month or 24 month working capital analysis to determine a reasonable range. Seemingly, even with the return of capital, there is quite a bit of working capital being retained for opportunities. LR