Worthington Group - Re: WRN Stream Log - CPS Deal. It could work,...

CPS Deal. It could work, but then WRN would have to finance the whole deal. Step by step. So the first Tranche would be at a deep Discount but then tranches 2 and 3 and here we are tallking about roughly $ 70 Mio would have to be at the market, best trough a convertible. Can be done, has been done before and will be done again. But of course first you have to start and the way I read, they are in contact with institutional Investors will to finance the first Tranche and I would then assume, they could as well finance the rest. Without CPS who has value and I have studied more than 58 pages from this deal, WRN will have it hard to stay with the stock Price where they are presently. Markets pay for earnings and expected earnings and markets pay for proven reserves and once in production the proven reserves become even more valuable. Conclusion: I will buy this stock if they do a deal with CPS and if not, this stock is overpriced by more than 50 %. IMHO