TGS tiger resources limited

To be honest, I think I prefer debt for equity swap. It's not...

  1. 742 Posts.
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    To be honest, I think I prefer debt for equity swap. It's not like we're going to find $200M under a rock out there in the Congo. Right now the debt holders are collecting 9% rent and I'd rather that 9% was retained. In one fine day, in some alternative reality that equity can be reduced through some sort of buy-back. But yes, brutal. If they get on top of operations I can see a PE of 4, which would put us still sub 10c with new equity included. Good to be moving forwards....
 
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