Gear Energy Ltd T.GXE

NCIB..Nothing yet to suggest

[NotThatBright22]

there will be any buy back. " the Company expects to provide additional details of the NCIB in its press release announcing the fourth quarter of 2023 "  we wait and see.  IMO divi remains at .005.

[tylerreddick]

Even if they announce an NCIB, that doesn't mean they will actually buy any shares. Quite often those are announced just to make newbies think they are doing something. Seen that movie many times, Sign of weak fundamentals to support the share price. JMO

[Roscoe747]

After the nothingburger of the Strategic Whatever, the Board had to come up with something and an NCIB gives them cover to do nothing except issue a PR. The annual expenditure on the dividend can almost buy the entire allowable buyback for the NCIB by itself. If they keep the dividend and do not institute a serious buyback, the Board is simply blowing smoke to cover its failures to act decisively.

[Roscoe747]

With the news release stating Gear's continued commitment to growth and the reality of the crude market, the only assured capital to use for buybacks is the free cash dedicated to dividends. One may look to the TM pipeline breaking the WTI and WCS discounts but there is no assurace on that issues whereas cost increases, third party maintenance issues etc are more likely to reduce free cash

[w8asec]

wow... You really are a paid dummy aren't you... good for you though... at least you get paid to bash.

[tylerreddick]

Posting the truth isn't bashing.

[Quintessential1]

Okay.  The truth is SCR appears to be in freefall with no bottom in sight. GLTA

[tylerreddick]

This post has been removed in accordance with Community Policy

[Quintessential1]

This post has been removed in accordance with Community Policy

[tylerreddick]

Except they can't afford the dividend either.

[ARealityCheck]

I suspect they will axe the divi and use the proceeds to fund their NCIB. They will get an initial pop, which will then fizzle. JMHO

[Quintessential1]

Keep the div at this level.  Pay down debt when the oil price is high and FCF is there.  Buyback shares when the debt is gone.  That is what MMs want to see. GLTA

[Roscoe747]

Whatever the new plan is, the insiders have to get off their comfortable perches and take actionn that alters the status quo or risk sliding further into irrelevancy from which there will be no return in this market, present sentiment being what it is.  New capital is all going to Tier 1 cash cows, not micro caps held hostage by market volatility to spit out their pennies. If the dividend