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Gold/Mining/Energy : Trailmobile Canada TMX (formerly MII) -- Ignore unavailable to you. Want to Upgrade?

To: eWhartHog who wrote (95)7/22/1998 4:27:00 PM
From: Philip Benson  Read Replies (1) | Respond to of 406
 
Mr. Hog:

Your comments are well taken. Unlike a lot of companies that lease property/plant, MII owns theirs. Due to the unexpected difficulties experienced last year, the company will be restructuring its balance sheet by in effect selling its building/land and leasing it back (there is a fair amount of off balance sheet value in these assets). This will significantly strengthen their balance sheet, equity position and cash flow. I would expect this to be finalized by Labour Day.

FWIW
Philip



To: eWhartHog who wrote (95)5/6/1999 5:27:00 PM
From: eWhartHog  Read Replies (2) | Respond to of 406
 
Now that shareholders' equity has vanished (negative $7.45 million at 1998 year-end), MII may have a problem dealing with banks and suppliers on a normal basis unless its obligations are guaranteed by a solvent third party. MII may be in technical default on its loans, and suppliers may demand cash payment for Mond purchases.


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