Intercontinental Gold and Metals Ltd V.ICAU.H

Interesting

[BayWall]

The company wants to buyback their stock. One idea is to later re-issue the same shares at a higher price to raise more money without dilution. More money can increase their monthly gold trading activity and help set up operations in Peru and Brazil. It would be implied that they feel the stock is undervalued. Whatever the business plans are, in light of the recent 300% rise, the buyback news makes a strong statement about the future.

[Luxluminae]

IMHO the trabsit5ion from a development stage company-especially a Canadian Junior-to a real compay with actual revenues and earning is a very rare event indeed. Therein lays the frustration as to how to value such an event. So, what makes sense? Or, put anoth4er way, what made sense before? Do we throw everything away inclduing the baby and the bathwater? Or, do we start to value the Company

[BayWall]

They reported 3rd Q results March 1st. So 4 Q and fiscal year end results should be out by the end of May.

[Luxluminae]

Hi BayWall I am not absolutely sure, but since March is the end of theri fiscal year (FY), I think they have an additional 30 days to put together the year end numbers-which need to be auditied. If I recall, quarterly reports are not adudited. But, I will ask.  

[BayWall]

I think it is longer also, given the fiscal year end report to be prepared.

[Luxluminae]

I have yet to find anyone to confirm all of this. But, if my memory serves me correctly.. regular  quarterly reports have 60 days to report, year end has 90 days.  But my feeling is they will report before the 90 day deadline. I think the results are going to be very good. Usually managements are anxious to report favourable new..

[BayWall]

Buyback started today--11:08:59 V 0.58 0.02 1,500 17 Integral Wealth Securities/ 7 TD

[BayWall]

Yes. Those buyback shares will be cancelled. It said so in their NR. Missed that. Integral Wealth Securities will conduct the transactions.