lsherrer - examine the balance sheet of DCIX and discount down
the dry bulk ships to around $55-60 million to be conservative.
They just sold 2 of the 4 for a total around $29 million.
All these ships are unencumbered (fully paid). They
also have $16 million in cash (no debt) on balance sheet.
Thus they will use these monies along with the $10 million
from the CEO transaction (posted below) to fund the purchase of the
2 new tankers. One of the tankers is already in the
fleet with the other due around November. They have 36.28
million shares outstanding.
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I have a small chunk
DCIX Swing Updated View
Posted by lsherrer on 27th of Sep 2019 at 11:58 am
I have a small chunk of this too. I'm prepared to swing it. At what point would you consider it fairly priced?
lsherrer - examine the balance
Posted by steve on 27th of Sep 2019 at 12:08 pm
lsherrer - examine the balance sheet of DCIX and discount down the dry bulk ships to around $55-60 million to be conservative. They just sold 2 of the 4 for a total around $29 million. All these ships are unencumbered (fully paid). They also have $16 million in cash (no debt) on balance sheet. Thus they will use these monies along with the $10 million from the CEO transaction (posted below) to fund the purchase of the 2 new tankers. One of the tankers is already in the fleet with the other due around November. They have 36.28 million shares outstanding.