no disagree, suspects its canada ifrs v us gaap reportingbut it...

First 41 Last

Share
Profile

Follow
retorn123

1,579 Posts.

300

02/08/23

15:39

Post #: 69119606
Share

Originally posted by Access2020: ↑

I personally don't like the new reporting. It's almost like more disclosure but in a bad way. I know @retorn123 and I disagree on the definition here, but CE1 have been putting adjusted working capital as part of their net debt (see below). Now there's no doubting that this is a claim and obligation but it's generally not included in debt, debt covenants, debt ratios and EV calculations - it's working capital. By including it, any comparisons investors might do may not be like for like. Examples below.

CE1's net debt, which includes adjusted working capital

Here's HZN, another oiler I own. Working capital not part of debt

Here's OEL, another oiler I own. Working capital not part of debt

Now what's the benefit of including adjusted working capital in CE1's net debt when other oilers don't? Note, I've had a quick look on oilers I own. If someone wants to do the research on other oilers to see what's standard that might be interesting. Anyway, I'll leave it at that.

And @anatagamu - that mouse comment was very funny. Glenn wasn't happy haha

Also I got this as a text from another holder, which for me is super interesting - top question. When management say 'no comment' to being in blackout there's a good chance there's something material being discussed/negotiated. Where there's smoke there's fire? Make of it what you will.

Expand

no disagree, suspects its canada ifrs v us gaap reporting

but it doesnt matter, ce1 paid off 7.8m that was owed as short term debt

and any sensible company would have plenty of it, and get rid of it just before a transaction

Last edited by retorn123: 02/08/23

CE1 Price at posting: 9.4¢ Sentiment: Buy Disclosure: Held
3 Upvote

0 Great analysis

Reply

Top Stories

GTR

GTI extends uranium mineralisation at Lo Hema through development drilling

DXB

Dimerix begins recruiting young kidney disease patients in Mexico for Phase 3

CHN

Chalice jumps on Putin nickel export ban threat – but then there's bad news

CU6

Clarity progresses SECuRE trial with positive safety results

3 stocks with antimony news on Thursday