RE:RE:RE:RE:RE:NCIB: right hand - left hand@ceetong yes you are correct about the increase in outstanding share when you are comparing from the last 4 NCIB. Also about the transaction for the net smelter royalty resulting in issue of shares to RM, I can see it in two ways. The first one could be they wanted to keep the cash for other bussiness or.....or they wanted to add more control over the company by reducing the ratio of public float vs insider holdings and for fews reasons I can see......to protect themselves from a hostile takeover or future proxy fight for example.
A NCIB is limited to 10% of the public float per year with daily limits, never wonder why it's limited to 10% of the public float? this is a way to prevent an administrator who is qualified as an insider to take control of the company (or even takeover the company if he was the only insider) by using the cash available from the company to buy back all the shares they don't control (public float). The most common use of the NCIB is to buy back cheap shares and it's a way to say to shareholders they have enough cash for the daily bussiness.
So yes the outstanding shares where increased but my guess whould be the public float vs insiders ratio decreased also. If the NCIB is completed then the public float will be decreased and the insider will gain a few % of control over the company. Nothing new here, it's bussiness! No wonder why they were many NCIB done over the years, the chess game is in place :-)
@Red_deer
As for Red_deer comments about the ask building.....I hope it will continu to increase. That's why I say the breakout needs to be confirmed with volume, more shares are booked in the ask side and more easy will get the large volume when the breakout occurs (all shares will be wipeout so yes we need ask building!). If there is not enough volume when the breakout occurs then the pullback will bring the price below the breakout level and you don't want that. It's nice of you to show level II to others.
The reverse takeover for Desert Lion Energy will be done in early 2018 based on Sedar filling so my guess is AAB shareprice will increase prior to the completion of the deal. Oh by the way my last prediction was in 1999 lol back then I predicted gold breakout if the price went above 254USD/oz (if my memory is still good, anyways close to that number) so I hope after 18 years I get this one right also :-)