ReGen III Corp V.GIII

Update

[lscfa]

So the Texas re-refinery budget is $225 million Cdn or $175 million US.   So the equity partner is in for $40 million US. What % ownership does that get them? I say 50:50 joint venture.  

 

	$US million
EDC loan	108
Other lenders	27
Equity partner	40
	175

[lscfa]

Fair value $9/sh....       US refinery Bpd 5600 Revenue $ mil 396.4 50% ebitda margin 198.2 Co’s 50% JV share 99.1 Co. cash exp -10

[lscfa]

[lupusalpha]

I am sure GIII.V management will cut a much better deal than a 50/50 JV... so it looks like 9 CAD is on the low end, eh?

[Schoener]

Expect massive dilution for existing shareholders.

[Schoener]

One conclusion : massive dilution for shareholders IF they obtain financing.