RE:RE:RE:RE:RE: dutch auction outcome...goldens wrote
The news release says they are going to do a NCIB. Loaded up a few more today.
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They purchased over 7 million shares in the dutch auction reducing the outstanding shares down from 181 million to 174 million. They still have aprox.$15 million left from the $25 million they had earmarked for the dutch auction which they can use on the NCIB.
They have reduced outstanding shares by 4% with the dutch auction and now can chisel it down some more with the NCIB which will also help support the shareprice. If they can reduce shares outstanding by another 10% next year that will bring the total down to aprox. 157 million shares outstanding.
ARG is now paying shareholders a nice dividend while still piling up $3.5 million Cdn. per month onto their $65 million US cashpile while slowly reducing outstanding shares which means more profits and potential dividends for the remaining shares outstanding.