I believeThey have $190M Cash US and no nebt debt. Net of all liabilites it is about $150M US.
I believe they have low Cap=ex on these producing assets and low Op-ex on these producing assets.
I believe net of all liabilities if you take the $150M cash less the EV of the company they are trading at about 2X EV/EBITDA and about 2X EV/OCF. Unlevered!!
I believe Keth Hill and the Brain Trust running this company can NOT find a producing asset trading at this level of Unlevered EBITDA, OCF, or Free Cash flow in ANY Country in ANY BUSINESS,
I believe that just by the announcment alone at the earnings call that they "INTEND" to commence a buyback means that they will be limp wrists and buy back only token amounts. IF they actually get it approved by the TSX, which should have already happened, BECAUSE, if they respected the owners of the company they would have already announced the BUYBACK on the earnings call as a DONE DEAL.
I Believe the company shares are substantially undervalued and will only substantially move to FMV if this BOD and manamement are TURFFED ASAP.