Listen to our latest Investing Matters Podcast episode 'Uncovering opportunities with investment trusts' with The AIC's Richard Stone here.
GGG , you have made 20+ posts and THOUSANDS of words repeating an argument that could be summed up in couple of sentences. Why are you so intent on creating a negative sentiment here? We get it your ****ed of you lost money and annoyed with bod but surely you understand they rarely if ever read these forums and there's ways of actually contacting them right? Another transformational deal done at a great price onwards and upwards.
Time to stop the whinging. Yes we are all ****ed the sp dropped and significant paper profits have disappeared but it’s a fantastic deal which will result in even higher returns when the time is right.
We only got it because a 25 billion company did a massive take over and having a fire sale to cut their debt from 13 billion to 10 bill asap. Another remarkable bit of business but potential new investors reading this forum are just seeing moaning and in-fighting which puts people off taking a position.
The truth is if you have patience buying in close to 11p placing price right now after another transformative deal is incredible value!!
Many of us i'm sure where suspicious why Cenovus sold so cheap if such a good asset? This enlightening post by "Kraftdinner" on ceo. ca/ ite?39cec0afe1ea explains this very well and makes me think another incredible deal has been done.
"With regards to your question about why $CVE would sell these properties. Some others above did give partial answers, like non-core assets, etcetera, but the real reason is stated in their 1Q Report. Someone mentioned above Husky and the merger that the two companies did during Q1 2021. This caused the CVE debt to rise to $13.3B at end of Q1. This is what Cenovus stated and will give colour to why they sold this and other assets recently.
Deleveraging will remain a top priority for Cenovus in 2021. The company will continue to allocate virtually all free funds flow to its balance sheet in pursuit of its net debt target of $10 billion. At current commodity prices, Cenovus expects to approach its net debt target by year end. The company will continue to prioritize the balance sheet even after reducing net debt below $10 billion, with a longer-term target of $8 billion."
The conspiracy part of my brain says this deal was structured this way to create mass liquidity so Majid and Heath's mates can load up on the sly before Serenity announcement. You can now buy as many shares as you want at a massive discount to last week when MM's where struggling for shares and we heading for 20p+ No way Majid announces Serenity in near future now as it would look dodgy as hell. If drilling planned for next year anyway they will just leave it closer to xmas. Boring 2-3 months ahead i reckon but would love to be proved wrong.
Momentum is gone and Serenity not coming anytime soon (hope i'm wrong)I think we have a boring couple months ahead of 10-15p trading range. 20p + coming but not in near future like we thought last week. Time to forget about I3E for a while.
Might see another 10-20% in Canada today. If not today certainly this week as ite looks set to retest that 0.40 spike imo. Oil at $76 consolidating before next leg up, endless news flow on horizon exciting times here chaps.
freshair,
Considering how bullish Majid is on Serenity, no way this happens until that's been announced and the SP is significantly higher IMO Can print all the shares they want at 30p+ if it's a good deal won't be many complaints!
Oil is flying again just hit highest mark since October 2018 i believe we may have a perfect storm here chaps!! Shame if FastFood has sold out hoping for lower . For me ITE chart is clearly showing will retest that 0.4 spike from Feb which i guesstimate is around 20p I3E which is my prediction for July. Exciting times.
I also incurred heavy losses here years ago. I was very naive back then and got roped in by some very aggressive rampers . I now know they where obviously profiting heavily rom mugs buying in ... probably linked to brokers somehow.?! I image these guys are now long gone with our cash. There was also a guy who used to fight the rampers every day and took loads of abuse doing it . Magicmonkey or something like that? Much respect to that guy. Lesson learnt and we move on.