RE:And the pop starts! Bid $.70 / Ask $.75
interesting coincidence
Cash on hand to market cap is 60%. Major shareholder , TUS owns 65.6%
Maybe reducing the stock overhang is possible ? which should send the stock higher .
Wishful thanking probably.
Update
Management has surpassed my expectations by buying the entire control block and eliminating the associated discount. I had hoped for a partial buyback.
Stock was 43 cents when the buyback was announced and is now 75 cents - up 74 %.
The stock is no longer grossly undervalued but is it fairly valued? I have no idea but i suspect there are more gains to come - 74% versus 65.6% ( control block) means up 8.4% on a per share stake. Not sure if current operations warrant a much higher price but I could see M and A ( an accretive purchase is their focus ) as an eventual catalyst for an even higher price.
Dang, maybe should have bought more?