RE:Menothey stopped the buyback because toro that they had just bought was not fully funded and they knew they had large tax payments due in q2. they were down to $57 mil after paying those tax payments and did not want the cash balance to get too low. it is simple math. everything does not have to be a conspiracy theory.
now that toro is fully funded with the 300 mil financing and wheaton, they will add 50 or 60 mil free cash in second half, increasing excess cash to close to 100 mil. they can then restart the share buyback with that much excess cash.
remember that gcm could not buyback shares when they had a large amount of gold notes outstanding. when a certain amount of gold notes were paid down (debt to equity ratio has dropped) they started to buyback shares.
it could be the same with the 300 mil financing. loans have to satisfy certain debt to equity ratios. as segovia generates excess cash, their debt to equity ratio drops, leaving room to buyback shares.
tsoprano24 wrote: Meno, I would hope so. Maybe that was reason for company stopping buyback. Keep price low so insiders
could get cheaper shares. Hate to say it, but there was no logical reason to stop buyback with amount of cash
on hand and coming in. And, imo, insiders have shown an ability to make moves that help them more than
us. Between Guistra and Sprott, insiders have been exposed to some real shady "investors" and maybe
learned a trick or two. Operation of company is spot on, but I have had some questions regarding assets
going and coming back. But, if it gets stock price up, great. If not, buyback cheap shares. If it is good enough
for insiders at this price why not company/shareholders???
T