370 million shares - To cut capex and marginalize KakwaARC shareholders ended up only being 49% of the combined entity, and VII Generations share holders are 51% of the combined enitity.
ARC should be a 20 dollars stock, and Kakwa should be producing at least 40,000 more boe than it is currently and VII Generation just reduced capex during covid and let production fall.
What kind of confidence does it give you regarding management when they leverage up their company to the point where they really don't have share holder majority and more, and cut the capex to their prize asset and squander the loot on pleading with first nations group so they can go forward with ARC MANAGEMENTS pet projects.
40,000 boe added to kakwa would more than double the CF from Sunrise, and still exceed the sunrise CF after the plant expansion.
Management does not know how to run a company and Kakwa is their best asset by a country mile, and it is the best return asset by a country mile and management is sitting on its hands.
Dismal management with no vision.
IMHO