RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Dividend vs NCIB - The Full StoryMy own escape from the industry was back in July 2014.
Good experience. Nice people. I'm just wired differently. When your brain naturally thinks in terms of decades, you are not typical in an industry that thinks in terms of months.
A good location in BC does have its advantages as you point out and the positives would be worth sacrificing sligtly lower margins. If I were on the Board, I would definitely agree with that...if our stock price was trading at a fair valuation.
I find that with the large discount to intrinsic value in our stock price, we should take advantage of it while it lasts and is where we should put our capital and our focus. It's hard to pass up buying a business for less than $0.60 on the dollar. Especially if it's a very good business.
If our stock were overvalued then exploring other uses of time and capital make sense.
I don't find seasonality is an issue. We've had it all our history and the result net has been good.
I like being an owner of the best casino operation in Alberta. While I do believe that oil will do very well for many years and that Alberta will see an increase in high tech jobs and above average population growth over time, I can't guarantee it and I could most definitely be wrong.
GH has produced highly attractive profits in all kinds of economic environments (even with oil well below $50). The track record speaks for itself. If a bad economic environment translates into a depressed stock price then GH should resume large stock buybacks.
There are many ways for GH to incease its earnings on a per share basis. My view is that at the present time, it is best achieved through stock buybacks. If circumstances are to change and GH were to trade at a premium, well I would certainly change my mind.
I hope I didn't insult you inadvertently Malx with my comment about noticing that you worked in the industry. I if did, please accept my apologies. I was just making friendly banter as I too am guilty by association. I very much respect your opinion and have only the best of wishes for you.