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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: takefive who wrote (148398)3/28/2011 8:37:55 PM
From: Ed Ajootian1 Recommendation  Read Replies (2) of 206272
 
takefive, NiMin Energy (NEYYF.OB) -- great CC, all systems going great here overall. I'm actually pleasantly surprised to hear that they think they will be able to keep production flat this quarter compared to last quarter, I was concerned that it would drop off due to no new wells being drilled.

Not mentioned on the call, but very significant IMO, is the fact that as of yesterday 4.7 M of the 11.3M $1.55 warrants had gotten exercised. Thus a big chunk of the overhang has been chewed through at this point. I believe if they could just get on Amex the new buying that would be coming from firms that can't currently buy the stock should result in the rest of the warrants getting triggered fairly quickly.

The company indeed has a higher than usual amount of analyst coverage for someone their size. I believe analyst coverage could increase in the coming weeks, now that a big chunk of the warrant overhang has been taken out. Also, between the $9M they started the year with, the $7M they have received from the warrant exercises, and the $10M that Global Hunter expects them to generate in cash flow this year, they basically have this year's cap ex already funded, with about another $10M that is almost certain to be coming in sometime between now and Sept. 4th from the exercise of the remaining warrants. This explains why Clancy (CEO) was harping on about potential acquisitions or JV's.
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