Share priceI said a long time ago the people who make the most basically have to stay in longer term and pay attention to Wexford.Wexford tried for at least 4 years to get control of this property.My guess is they know much that has not been revealed.
The next thing I am asking myself is who benefits from these lower share prices the most especially going into production and keep in mind about excess cash not being kept on the balance sheet.As the share buy backs occur,my guess is Wexfords and others who hold tight % are rising and that's without further share purchases themselves.
the playbook of this company is run by Wexford.Important not to forget.Im beginning to believe that by the end of 2022 gong into production of up to 1000 tpd may have this company produce up to 80 mil of free cash flow which much could be distributed to shareholders.By then Wexfords % ownership could be even higher.Great roi for Wexford fund.
My point is that I can see Wexford wanting the share price to remain low as long as possible which seems to be happening.In 2022 to 2023 time frame much capital could be returned to Wexford through buybacks and dividends and we smaller shareholders go along for the ride hoping that this will eventually be reflected in the share price.
Akiba once said Wexford is patient money.My guess is they are using this company for cash flow over many many years or until some larger entity is willing to pay up for that cash flow.Only at that point does a high share price matter.In the mean time keep the share price low for share buybacks and keep their % ownership a rising for a period when dividends are paid out.