RE:RE:Question Debtbandit69 wrote: It's not the debt that markets are looking at it is the lack of returning of capital to shareholders and the lack of plan or comments to do so. It's that simple. Why invest here when everyone else is throwing cash around to share holders. If they ever decide to do the right thing and inform shareholders of such then the share price will begin to re-rate.
Maybe I am also not the only one who sees that writing cheap options during a price crash due to poor performance is a problem and indicates some cronyism on the board because that's not looking out for shareholders interests in my opinion. For years common shareholders have been hammered (still are) and have been for a long time yet options have been issued regularly along with salary increases for management along the way. Does that sound like shareholder alignment? Nobody in their right mind would think this is "alignment". Warren Buffett has never written an option throughout BRK's history because is truly in alignment with his shareholders and certainly would never write cheap options after a price crash to less than a dollar due to poor management decisions (i.e. his own decisions). Never. He truly values his shareholders and it shows in actions and in words.
I agree with what you are saying but it appears to be a problem that plagues the entire sector. I remember owning Athabasca shares at a time when they were worth pennies and their management were awarding themselves performance shares at the end of the year.
Seeing Whitecap buyback 10 million shares one week, then granting themselves 1 million new shares out of thin air the next week.
Obsidian management paid themselves more in bonuses in Q1 2022 then the company paid back in debt for all of 2021.
Seems to be, if you want to be invested in this sector, you just have to deal with management teams who are primarily conerned with their own self enrichment.