RE:RE:RE:RE:AGMThe whole situation really is interesting from many angles. The share price alone, trading at ~1/3 book, and probably something like 1/5 or 1/6 tangible assets however having no liquidity presents all sorts of opportunities. The question of course being without a specific catalyst event (sale, privitzaion etc) how does the share price really move higher.
Clearly they explored a SIB based on the AGM comments.
NCIB at 5% is really ~12-13% of the oustanding shares.
I could dive deep into some math of it all but i'll spare you the boredom :)
A thought however - if there is going to be a focus on the dividend specifically would you not be happy to buy shares at 11.5-12 dollars a piece with a 5.5 yield growing at 6-10% a year for decades?
A shareholder asked for some clarity around Harmony are received pretty much none. What do you think those assets are potentially worth? 10 dollars a share? 30? 40.....?
If BV is actually 70 a share continuing to buy, and buyback at 12 seems like the deal of the century.
If memory serves (probably doesn't) in the last couple of decades this stock has been 4 dollars split adjusted, 30 dollars, 4 dollars again, low 20's and now 11.50. But never before has there been a focus on shareholder return. Maybe that has changed? And maybe for a reason?