"consider a situation where up to 10 boats across 2 projects are ordered this year."
If this was to happen, fela, we would be asking questions about financing.
As I mentioned in the post about GEV director Jens Jensen scoring a 14 bagger with his 2020 Bunkers operation, 2020 Bunkers initially ordered two 204,000 dwt Newcastlemax ships with options for six others.
Then, so as to meet its $US350m commitments to New Times Shipbuilding, the privately-owned 2020 business made 11 equity placements within 15 months to raise $US67m.
It also organized bank finance over 15-18 years at a loan-to-valuation ratio of 60%.
Now, GEV Chairman/CEO Maurice Brand says in his Proactive Investors interview that "ship financing is not an issue for us going forward."
OK, that may be comforting, but the interviewer could have/should have asked MB some searching CR questions, eg:
. About how many more capital raisings will GEV need to make in the next 18 months?
. About how much would you expect existing shareholders to subscribe in that time frame?
I suspect the GEV share price is being affected by uncertainty, uncertainty about exposure to regular CRs, in line with the 2020 Bunkers precedents.
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Last
1.9¢ |
Change
0.000(0.00%) |
Mkt cap ! $11.98M |
Open | High | Low | Value | Volume |
1.9¢ | 2.1¢ | 1.9¢ | $3.038K | 154.1K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 8998 | 1.9¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
2.2¢ | 266999 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 8998 | 0.019 |
4 | 427532 | 0.018 |
9 | 1033447 | 0.017 |
7 | 502706 | 0.016 |
1 | 100000 | 0.010 |
Price($) | Vol. | No. |
---|---|---|
0.022 | 266999 | 2 |
0.023 | 3600 | 1 |
0.024 | 145833 | 2 |
0.025 | 44343 | 4 |
0.026 | 90400 | 2 |
Last trade - 14.45pm 27/09/2024 (20 minute delay) ? |
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