Points of interest - "The single biggest issues is Commander's very high level of debt," he says. "It appears that the asset sales thus far hasn't made much of a dent in that debt. You get the impression that those funds have largely being used to assist in the company's working capital requirements."
"It is difficult to image that we'll see this situation change in the short term," he said. "Their position remains very tight. The share price isn't going to go anywhere while these debt issues remain. We're unlikely to see significant new investment until these issues are resolved."
"I do believe Commander's management, with their stakeholders, have viable options," he concludes.
"They're hopefully a survival story. But the jury is still out."
mmm anyone wanna bag tails again.
CDR Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
