Author Topic: MCR.V - Macro Enterprises  (Read 89280 times)

_JJ_

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rukawa

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Re: MCR.V - Macro Enterprises
« Reply #271 on: May 30, 2018, 04:50:45 PM »
I don't own it right now but, value remains compelling. Business trend is also heading their way.

With all these small caps, I always look at how many options are outstanding and tend to add them all to the existing share count even if they are way out of the money. Because even if they don't reprice them, they will issue new ones at lower prices. And when they run out of space to issue options, they will simply pass a new resolution at the next AGM to increase the amount where few notice and contest.

I am not saying it works with every firm since there are some where share count is important and this math does unfairly penalize them but, it saves me from negative surprises.

Cardboard

Is this different that the fully diluted numbers reported? I assumed that is what fully diluted numbers do.

_JJ_

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Re: MCR.V - Macro Enterprises
« Reply #272 on: June 19, 2018, 09:47:12 AM »
Quote
Joint Venture Signs Construction Contract for Coastal Gaslink Project

June 19, 2018 08:30 ET | Source: Macro Enterprises Inc.
FORT ST. JOHN, B.C., June 19, 2018 (GLOBE NEWSWIRE) -- Macro Enterprises Inc. (TSXV:MCR) (the “Company” or “Macro”) is pleased to announce that its Joint Venture with Spiecapag Canada Corp. (“Spiecapag”) has successfully negotiated and executed a construction contract with Coastal GasLink Pipeline Limited Partnership for pipeline construction services on the Coastal GasLink Pipeline Project (the “Project”).

The Macro Spiecapag Joint Venture has been selected to construct approximately 166 kilometers of a 48-inch pipeline.  The Project will run approximately 670 km (416 miles) in length. The proposed pipeline will deliver natural gas from the Dawson Creek area of northern B.C. to a facility near Kitimat, B.C., where it will be converted to a liquid form for export by LNG Canada. From there, it can be shipped to markets in Asia that are currently powered by coal-fired electricity – a significant source of greenhouse gases.  LNG Canada is a joint venture company comprised of five global energy companies with substantial experience in liquefied natural gas (LNG) – Shell, Petronas, PetroChina, KOGAS and Mitsubishi Corporation.

The initial estimated contract value is in excess of CAD$900 Million with a Joint Venture split of 40/60 between Macro and Spiecapag.  In general, the civil work will be performed under a reimbursable type contract model while the mechanical scope will be performed under unit rates.  A Final Investment Decision (“FID”) is expected to be received by Q4 2018, with a full notice to proceed issued shortly thereafter.  Current in-service date of for Coastal GasLink pipeline is scheduled for Q4 2021.

Frank Miles, President and Chief Executive Officer of the Company stated, “We are thrilled to be working with our joint venture partner, Spiecapag, on this very technically challenging pipeline project.  The economic benefits of this project will serve to provide numerous subcontracting opportunities for local and indigenous businesses, direct employment for over 900 personnel, and growth to the economy with development of new markets for Canadian gas. As a British Columbian based company, we are proud to be part of this ambitious project.”

Spiecapag is part of the Entrepose Group of Companies and a subsidiary of Vinci S.A. (“VINCI”).  Entrepose Group is an international contractor that designs, builds and operates production, transportation and storage infrastructures for the oil and gas and other energy markets.  VINCI is a global player in concessions and construction, employing more than 190,000 people in some 100 countries.  VINCI is listed at Euronext’s Paris stock exchange and is a member of the Euro Stoxx 50 index.

https://globenewswire.com/news-release/2018/06/19/1526486/0/en/Joint-Venture-Signs-Construction-Contract-for-Coastal-Gaslink-Project.html

wisowis

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Re: MCR.V - Macro Enterprises
« Reply #273 on: June 20, 2018, 07:21:40 PM »
What is everyone doing with their shares here?

Given that this is no longer trading at a discount to liquidation value, I'm thinking of selling and moving on. At this price, we'd be betting on the future earnings power of this company from the new contracts. Less of a margin of safety than before.

_JJ_

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Re: MCR.V - Macro Enterprises
« Reply #274 on: June 21, 2018, 10:42:05 AM »
What is everyone doing with their shares here?

Given that this is no longer trading at a discount to liquidation value, I'm thinking of selling and moving on. At this price, we'd be betting on the future earnings power of this company from the new contracts. Less of a margin of safety than before.

Hold. I bought my shares in the beginning of 2016. My view has always been that the liquidation value provides a nice cushion and there's lots of upside from new contracts once the market recovers from the cyclical low. Right now it's still only trading at an EV of 65M, so I don't think the market has priced in anything of the Coastal Gaslink project and other contracts it is likely to sign in the short term with their JV partner.