New identity, new narrative, the call in a nutshellMrs Davidson is transforming the company in a meaningful way. No more angry investors in the conference calls - we will have none of that from here on.
The new narrative: we are green. We use clean energy and we clean up mines tailing mess, yet we are profitable. So you green investing ETFs, better look this way.
The dividend: it has to be sustainable and has to grow. If 6% is not enough for you, look elsewhere (and good luck with that: FM doesn't even yield 0.1%)
The buyback: no idea if it will catch. The unused money will return to shareholders through an NCIB if it didn't work. Luzich and al intended to use it, but it was not binding.
The special dividends: don't count on it. That is not sustainable.
The company growth: waiting for offers and occasions, we will not ruin our business to grow.
Hedging : working on it, if it can secure the dividend, but our situation with royalties makes this complicated - stay tuned, but don't hold your breath
All in all, this has become a mature and smart company, run by mature and smart people. What is there not to love?