GUYSBOROUGH – Have you every wondered how Goldboro LNG may look as a stock market investment? Well Laurentian Bank Securities is now providing analysis and advice for investors on the project proponent, Pieridae Energy.
Pieridae shared the news this past week that Laurentian analysts are now covering the company. Laurentian's first analysis report, dated Jan. 16, 2018, gives Pieridae a speculative buy rating, with a one-year target price of $8.50.
The bank's analysis highlights the company's favourable financing position. It notes that "required debt capital for development is secured by the German government. Pieridae "qualifies for a German Untied Loan Guarantee that back-stops debt financing for up to US $3.1 billion for the LNG terminal, and similarly for US $1 billion applied to upstream development," the report states. This guarantee, it says, will allow the company to secure debt financing at "very attractive pricing."
Pieridae Energy is listed on the TSX Venture market and was trading at $4.77 on Tuesday afternoon, Jan. 23.