RE:RE:Time to use some of that cashBentouttashape wrote: Buying back which shares? We spent $118 M to add 100 thousand shares when Calibre bought Fiore. Now we could spend another 100 M to buy back 75 thousand shares. Get rid of Pan Mine and all Fiore related assets and then share price might go up. Fiore was the worst acquisition by any gold miner in the last 30 years.
Maybe my math is worse than I thought...
You're saying CXB had spent $1,180 per added share ($180M ÷ 100,000) to buy Fiore and would need to spend $1,333 per repurchased share ($100M ÷ 75,000)? Something feels off.
Regardless, repurchase of shares would indicate that management expects good results to continue. Also, it's a good way to reward shareholders until dividends are declared or a takeover occurs.