RE:RE:RE:RE:RE:GCM & Aris Gold Combine! Wow!Heywood_Silvers wrote: My preference would've been to just stop buying back shares and keep the dividend. GCM would save more by going cold turkey on the buybacks instead of cutting the dividend.
In general, cutting dividends (regardless of rationale) is never considered a positive by the markets.
We're going to withhold your dollar today in hopes that we can give you two dollars 5 years from now. And suddenly we realize the importance of what we were taught in finance class: "A bird in hand is worth two in the bush".
Sorry, don't buy it, the divvy was quite low to begin with, no harm whatsoever in keeping it. If GCM has to pinch pennies to this degree, we have to question whether they have concerns about solvency. Wouldn't the $10mm annual G&A savings pay for all of the extra dividens to the new Aris shareholders anyways? Again, sorry, not buying this!!
Agree mostly with you Heywood Silvers.
Looks to me GCM bought a good management team but Serafino will still be getting Topoparu
up and running as is his exertise and still adviising on all things Columbia on the board of
directors. Looks good but have to say mostly unfamiliar with new management. IKE
The combined group will be led by Neil Woodyer as CEO and the corporate office will be based in Vancouver, Canada. Both Lombardo Paredes, CEO of GCM, and Mike Davies, CFO of GCM, will retire from their roles with GCM. Serafino Iacono will step back from an executive role but will continue as a member of the Board of Directors and an advisor on matters in Colombia.