ARX objectives and Goal
Bang your Head against the wall
Thats what ARC management is doing with Attachie. It is a desparation initiative by management that has failed to deliver for more than 7 years, it is personnel (Terry), it is not in the shareholders best interest(No Agreement in Place), and it is not near term, a build out needs to occur.
CVE bought back their hedges and have commited to no mor hedges, the cost of risk management at ARX is through the roof, it is out of control and stuipid, will they commit to stopping their stupidity. Management is incompetant and can not direct a reasonable hedging program.
So far that share buyback equates to at least $1.25 per share, given the share performance management should resign in its inability to get the confidence of capital markets. Shareholders will have to decide if the only way the shares will appreciate in value is buyback, and that they comfortable that management add no value of their own.
Sell the company, rather than continue to endure the poor performance of the current management team.
IMHO