NCIB Renewal Hi folks,
It is nice to see the NCIB renewal being approved by the Board in the news release out out this morning.
Every share repurchased at these prices are highly accretive.
Ultimately though, the NCIB is only a small step to closing the valuation gap. In order for the market to really change its perception of Melcor, the company must improve its return on equity across its business divisions. Another plus would be to figure out once and for all what to do with the REIT and investment properties.
Let's hope Naomi has the mandate and the capability to execute on this over the coming years.
LR