OTCQX:GXOCF - Post by User
Post by
giovincoon Jan 15, 2019 1:39pm
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Post# 29234761
Dividend?
Dividend?They are getting over $40 USD per barrel of WCS, which is higher than the number in their December presentation. They are also getting more profit from the hedge than the presentation at the same time. Still not sure why they did a PP in December, at the lowest possible stock price, when they had 50 million credit facility available. GMT Capital bought most of their shares above $3 so it doesn't really make sense for them to dilute the shares to average down; I would've just made a take over offer if I was them.
But they did the PP anyway and now they should be cash flow positive. Why not reinstate the dividend? They cut the dividend very quickly so why not reinstate it ASAP. They are losing investor confidence doing stupid things to benefit themselves only.