RE:RE:NCIB RenewalI think it would actually be nice to know what the true "Public Float" would be at Melcor if you included employees of the Company. I suspect that the true measure of public float could be below 35% of the issued and outstanding shares. In my previous conversations with Nicole at Investor Relations, it was alluded to that non-insider employees make up a decent percentage of the outstanding shares. However, these are not counted included in the count of the public float.
A general disclaimer would be that I have no proof of this... it is a guess based on 123 full time employees from the Annual Information form of which many have been around for a LONG time and the company appears to have very low employee turnover rates. Also worth noting, the online Glassdoor and Indeed reviews have improved since Mr. Rayburn's departure.
With respect to the NCIB, I suspect that at the right price you could see some shares free up. Realistically, aside from those who would have acquired during the initial Covid slump, anyone who has purchased over the past decade is underwater on their adjusted cost base compared to the current share price.
LR