Post by
Farquar on May 01, 2022 11:44pm
FVI is too cheap
A 400,000 gold ounce eq. producer valued at only 1.3 billion $cdn? That's ridiculously low. They just announced a NCIB of almost 15 million shares , which starts today with a maximum daily buy-back of 276,000 shares and as of April 15th/2022 there were about 10.7 million shares short which will have to be bought back sometime soon.. So, in theory , approximately 25 million shares , above the normal approximately 1 million shares per trading day volume, will possibly be purchased in the open market in the next 2-3 months....This is very bullish...If gold can rebound soon and surpass the 2000$ threshold, then this stock should do very well....This stock was 12.20$ about 15 months ago, so now at 4.49$ it's presently down 63% from it's 15 month high...All this time, Fortuna has been making good profits..The shorts should start covering soon , as FVI's share buy-back program should create a floor sometime soon and should help prevent the share price dropping too much further... There's a possibility of a stock market crash which could bring the gold stocks down with it but that would probably be a temporary drop...
Comment by
WernHerr on May 02, 2022 3:55am
Farqur@ Thank's for your post. Good view!
Comment by
geezer21 on May 10, 2022 9:35pm
Hopefully, they are in there buying shares back at these low bargain prices.
Comment by
Wynjoe on May 11, 2022 8:20am
With an update coming today we should soon see in what direction this company is heading. A yearly low of $3.73 was hit yesterday,if it falls below that I would recommend everybody stay clear until a new bottom forms,however,it is my opinion that we should rise from here.Speculative Buy.