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Gold/Mining/Energy : Canadian Oil & Gas Companies
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To: Marcman who wrote (3767)9/25/1997 1:41:00 AM
From: Chi-Chi   of 24939
 
Marcman,

Golden Trend is profiled on The Energy Stock Page. More information on the company is available there. I believe there are a couple of reasons for the low share price. Firstly, there are Class B shares which are convertible, at the option of the Company, into Class A shares. On a fully-diluted basis this would make the cash flow per share for 1997 closer to 38 cents per share. This still means that Golden Trend is trading below a multiple of four times cash flow. The key here, however, is that the Class B shares are not convertible until 1999, and they are convertible at a fraction of $1 divided by the greater of $1 or the weighted average trading price of the Class A shares at that time. Thus, by December of 1999 the dilutive effect of these Class B shares may be decreased if the Class A shares continue to see an appreciation in price. For this reason, we find this stock attractive.

The other likely reason for the low price of Golden Trend is that its production has more than tripled since last year and it has probably gone unnoticed. Golden Trend will be presenting in Calgary on October 28 at the SEPAC conference.

In the meantime, check out the profile on Golden Trend:

oilesp.com

P.S. You will also notice that our first profiled company (Granger Energy Corp.) has a similar A-B share structure.
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