LARGE BLOCK SHARE PURCHASE Hi All
You know what I am hearing and if it's been posted here and I missed it than apologies !
Whitecap increase there NCIB , and well I am sure they would buy there allotment on the daily if it made sense the real reason behind the NCIB being increased is because there buying back the large lot of shares they issued in one of the previous asset purchases.
So what your going to see if I am hearing right is the share count going back closer to there original share count at the NCIB start state witch was of I am not mistaken 597 . I am not doing math here but I think if I read this right on this NCIB they have 37 M left as of the news release stating they were approved to increase.
Either way buying back shares at these levels of the price is to go to 12 to 17 who knows does made some sense.
Longer term it's a bargain. Time will tell. We are talking about soending at today's prices close to 400 M to do that.
There interest rates to borrow are wonderfully low and if they are on track to have 1.1 plus billion in discretionary cash flow this would leave them with another 700 M.
This is to me the best company out there given how there being priced at today in the market. This is a bargain.
C