RE:RE:stock buyback?doubled my position @ 13c, we fly past 20 on news easy, wouldn't be surprised if we get into the mid-20s.
according to my interpretation of the july 31 asset review, it seems to me that they intend reaping the benefit of the farm-in @ algar lake; @ grand rapids they will either farm-in to a major or do a jv with an established producer; they are looking to either sell mackay, or farm/JV as well. as for africa, it's a lottery ticket and we all know it. does anyone see anything in common here? all of this requires minimal capital on our part. they have been burnt by clearwater and have no interest in going down that path again. furthermore in their release they stated multiple times that a dividend was on the table:
"Assets divestitures, CASH DIVIDENDS to shareholders, farm-ins, further accretive acquisitions and farm-ins, joint-ventures, potential combinations, share buybacks, spinouts and share or CASH DIVIDENDS, partnerships, and the outright sale of the Company."
-Just speculation, but i wouldnt be surprised if we saw a divy on the order of 15-20c/share when the money comes in, so back up the truck. Also, look for more farm-in agreements and asset sales in the near future here. We have great properties, and honestly don't really need to invest much into them ourselves to bring them to production, other companies will do it for us. I get the feeling that this company is going to be very busy in the coming months, so hold on for the ride.