What if they are not buying back shares......at the current low price because they want to keep the money for a better investment, like an acquisition ? Everyone will agree that the current almost all-time depressed valuation of pretty much every gold miner out there would be the perfect timing for a company with a very strong balance sheet to go on a bargain hunting search right ?
2 of their recently hired executives have very strong backgrounds in M&A.
Their new CFO, Mr Sapuppo, is a senior executive with extensive experience in finance, commercial, strategy, risk management and mergers and acquisitions in the mining and energy industries. Prior to joining Roxgold, he was the General Manager Finance at Beach Energy Limited. Mr. Sapuppo was previously the General Manager, Mergers and Acquisitions (Acting) and Group Manager, Commercial Reporting at Newcrest Mining
Also, Mr. Eric Pick, who joined Roxgold at the end of 2017, is a financial professional with over 10 years' experience in corporate finance and mergers and acquisitions, predominantly in the mining sector. He was most recently Vice President, Investment Banking at Cormark Securities Inc. where he spent over seven years working in the mining investment banking group. While at Cormark, Mr. Pick executed numerous equity financings and merger and acquisition advisory mandates across a variety of sectors including precious, base and specialty metals.
That would be a good reason for M. John Knwles, board member, to buy 75 000 shares on the public market wouldn't it ?
Only my opinion.