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Gold/Mining/Energy : NGL to da moon (well, maybe to $10?)!!
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From: Elroy3/19/2024 9:14:27 AM
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Lets see - the next bit of news expected from NGL is they planned to do some asset sales in Q1 2024, and soon thereafter pay the second half of the arrearage on their various tranches of preferred stock (which are all currently in arrears).

If the sale goes through, I'd expect an announcement by early April latest (perhaps in March if they put out a press release the day of the sale). That could help the preferred stock a bit if they announce the second arrearage payment along with the sale.

I would think it makes sense for them (if the sale is going through) to make the second arrearage payment before April 15th, and then on April 15% make the regular preferred stock payments, meaning their all their obligations are current for the first time in about three years.

The next bit of news after that is fiscal 2025 (March) guidance. That will come on about June 1st with the Q1 2024 earnings release. The main use of cash going forward (once the second half of the arrearage is paid) is retirement of about $550m series D preferred stock. It is due in summer 2027, so they've got three years to save that up or refinance or do whatever the plan to do about that.

My hunch is NGL can get to $9 by this time next year. But the fsical 2025 guidance (how high will EBITDA go?) is the key determinant of the share price.
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