Preferred Share TenderFrankly I'm surpised more DC.PR.B shares weren't tendered into the substantial issuer bid. The SIB was for $61M and $38M was tendered.
Of course that still leaves Dundee with a lot of cash. My guess is they shift their focus to buying back the subordinated shares....perhaps start with a NCIB to get 5% sub $1.50 and then a SIB at $1.75.
Jonathan and Bob are off to a good start on the capital allocation front. If they can significantly decrease the subordinated shares outstanding in combination with some success from one or more of the many irons in the fire, DC.A will be much higher.
In meantime, since the series 2 pref tender, Earlston Investments has been consistently buying 20K to 50K DC.A shares per day.