http://www.marketwatch.com/story/opec-deal-in-doubt-and-that-mean...

First 14 Last

Share
Profile

Follow
antibotter

7,521 Posts.

263

29/11/16

01:27

Post #: 20948894
Share

Originally posted by Value_Hunter ↑

what is hilarious - is all this has been in the open for at least 12 months ...........

the company has confirmed the following:

1. it is having to lower margins to ensure boats have work (as AHS has pointed out many times referencing other industry operators),
2. they are operating with the support of their bankers
3. they need to continue to sell boats / cut costs / access new capital
4. the timeline till industry pickup is 12-18 months AFTER any rebound in oil price.
5. the MD, and the Board are obviously under pressure
6. even with the new build boats - expected earnings are not materialising ......

the options available to these muppets are:

1. deeply dilutive equity raising
2. banks swap debt for equity
3. some form of preference convertible security
4. along with a new "steerer" of the vessel (my attempt at humour)..

clearly - waiting for a rebound .......and selling off a few boats aint going to get them out of the hole they are in ......

simply put - it becomes a question of "price" versus the banks patience ......

as previously stated - it will be waaay safer to just wait till the thing gets re-capped ........and then take a position.....

rgds
Value_Hunter

Expand

http://www.marketwatch.com/story/op...o-latest-developments-2016-11-28?dist=markets

MRM Price at posting: 28.5¢ Sentiment: Sell Disclosure: Not Held
Upvote

0 Great analysis

Reply

Top Stories

Ice-cold winner: Cryopreserver Vitrafy escapes November's IPO struggles to end debut week higher

Week 48 Wrap: ASX flirts with 8,500pts; APRA declines mortgage loan easing; Trump's Bessent tied to Dem donor

MIN

MinRes's Ellison knows he screwed up – for that reason, hunt for new Chair to be sped up

Dale Gillham's weekly wrap: Bold moves in NZ, caution in Australia

History-making uranium sample grades and an imminent drill run. Infini Resources is poised to transform in 2025

ACW

This biotech stock raised $11M in a risk-off environment. Its Alzheimer's drug could change the game

ADD

Parkes Au-Cu project to 'transform' Adavale Resources with key targets

HotCopper Highlights: Your most watched stocks for Week 48, 2024

WC8

Pan Asia rebranding to 'clear confusion' after bagging $35M for Chile projects

RSG

Resolute shares bounce back as second payment made to Mali government to secure workers' release

There are more pages in this discussion • 94 more messages in this thread...

First 14 Last

Add MRM (ASX) to my watchlist

http://www.marketwatch.com/story/opec-deal-in-doubt-and-that-mean...

Top Stories

Ice-cold winner: Cryopreserver Vitrafy escapes November's IPO struggles to end debut week higher

Week 48 Wrap: ASX flirts with 8,500pts; APRA declines mortgage loan easing; Trump's Bessent tied to Dem donor

MinRes's Ellison knows he screwed up – for that reason, hunt for new Chair to be sped up

Dale Gillham's weekly wrap: Bold moves in NZ, caution in Australia

History-making uranium sample grades and an imminent drill run. Infini Resources is poised to transform in 2025

This biotech stock raised $11M in a risk-off environment. Its Alzheimer's drug could change the game

Parkes Au-Cu project to 'transform' Adavale Resources with key targets

HotCopper Highlights: Your most watched stocks for Week 48, 2024

Pan Asia rebranding to 'clear confusion' after bagging $35M for Chile projects

Resolute shares bounce back as second payment made to Mali government to secure workers' release