Operational changes and the balance sheet consolidation of its Kipoi project have led Tiger to build up a large working capital deficit. In simple terms, Tiger is unable to meet its current debt repayment obligations, the broker notes.
The need for a refinancing deal is thus now pressing and the broker retains Underperform ahead of any news on this front. Target unchanged at 3c.
Target price is $0.03.Current Price is $0.06. Difference: ($0.03) – (brackets indicate current price is over target). If TGS meets the Macquarie target it will return approximately -83% (excluding dividends, fees and charges – negative figures indicate an expected loss).