How about buybacks?If the CIA share price is undervalued (analysts indicate it is), then this would be a great time for Champion to return capital to shareholders by buying back its own shares.
A Normal-Course Issuer Bid
NCIB program will allow Champion to buyback 5 to 10% of its shares.
On March 31 2020 Champion had issued 467,689,000 ordinary shares.
On July 1 2021, an 'Application for quotation of +securities'
PDF on Hotcopper lists the current issued ordinary share count as 506,416,164
Therefore, the share count has grown by 38 million shares or 8% over the past 15 months. A Champion buyback program could reverse the share count growth to the benefit of shareholders and it would support the share price now.
Putting cash into buybacks will also demonstrate that Champion has matured beyond the warrants-for-finance deals and shares-for-land deals and demonstrate that they respect the integrity of the shareholder base.