RE:RE:RE:NCIB announcementThrawn wrote: Maybe they don't even use it unless the stock breaks $1. But its good to have in place for cheap shares if the bottom falls out as sucking up even 1M shares below $1 would be very beneficial for other shareholders who stick around. I doubt they buy above $1.3 because of the returns they are getting from using money for drilling. I'm sure others can calculate the return on a buying shares under $1, $1.25, $1.5, etc compared to drilling returns. Imo, no reason to add to debt to push their stock price up but spending $1M to soak up shares near $1 would be great.
As for the buying on the close, I included a 5min chart to show the spike.
I trade a lot and the 5 minute spike on the close right before a positive announcement is suspicious. This is a stock that no one has wanted for months yet now someone is buying it up 10% because they had to get into the position, no time to spare, in the final minutes of the day? Obviously it could be harmless sloppy buying at end of day but I still wish they looked into these things. Its a big coincidence after all, how many other times in the past few months has someone rushed in to buy in the final minutes when it was already up on the day 5%?
kavern23 wrote: I think Yangarra waited until December to do this buyback due to the timing of thier quarter 4 capital budget. The majority of the 4th quarter (frack and tie in) happened in October and I think YGR has one more well to tie in early November.
December is the month YGR should have the cashflow to do any kind of buybacks as the capex spend will be so minimal for December compared to October. Most of November's cashflow would be used to pay October Capex.
The key thing and will be interesting to watch is at what price does YGR stop the buyback...1.50..or will it be higher then this....
Also hard to say what the selling pressure is on YGR up to 1.40. My gut tells me alot of YGR core shareholders have zero interest in selling until much higher. Going to be alot of retail churn shareholders on selling.
Block at 1.18 and 1.20 are the only really large one's.
It likely wasn't any kind of leak...Peters and Morgan Stanley seller looked tired yesterday.
I figured some kind of small gain just as soon as they were done...and likely what happened.
Look on page 6 of the corporate presentation.
https://www.yangarra.ca/wp-content/uploads/2019/10/YGR-Corporate-Presentation-November-2019.pdf With a NAV of $15 per share and a P/E of less than 2, they should be placing market orders for the maximum allowable 62k shares per day at any price under $3. As a shareholder I’d prefer to see the maximum amount of shares bought and cancelled each day, over 1.5 net extra wells drilled for the year. $5M’ish on shares buyback vs the extra well is my vote without a doubt.
Everyone know what the market orders do for the share price?
YGR is the most undervalued jr I’ve ever seen.