What a day. Exuberance on stock market, exuberance on our board, HEU index 12% up, CLL SP 16% up. Nice bounce today.

CLL share price was muted today to some degree by bbq who pointed out to new Scotia Capital Report. They were asking several questions on last Conference call.

Good point Den, about the hedges.

Since Etrade customers can now enjoy Scotia Research this what I found in the report (I think they should stop coping my posts and come up with something more original):

"Although management has drastically reduced its 2009 budget to $123 million from $373 million, we still expect negative free cash flow of $177 million, leaving the company with only $47 million of cash remaining at year end.

We expect this cash to run out in 2010.
With no credit facility in place, this could leave the company in a very precarious position should commodity prices fall and/or management be unable to secure additional financing.

We have lowered our rating to 3-Sector Underperform from 2-Sector Perform and reduced our one-year target price to $0.75."