RE:RE:Turning point...JohnnyDoe wrote: red2000 wrote: Paying Long Term Debt or Buyback shares ???
Answer of Eric Greager CEO...
say Nov. 3rd about Actual S/P :
''Our shares are undervalued, Avg. forecast of analysts is a good metric (no time frame)''. So for me, 8$ CDN Seems the signal to paid more LT Debt faster and Div. 
Feel free to comments !
What is your S/P signal ?
Paying debt faster isn't really going to happen Red. They've got a return to shareholders framework of 50% of fcf.
The question was asked in the context of paying debt versus buybacks. If the shareholder returns commitment didn't exist, there'd certainly be debate about the most prudent use of funds. Eric's answer was he's getting better value buying shares because the shares are more undervalued than the interest on the debt.
But there's not going to be a point where they look at the piles of cash going to buybacks and say "we're better off paying debt" because if that happens, they're violating the returns commitment and that's probably not a good idea.
Buybacks are part of the shareholder return which is 50%. I suspect to suspend buybacks and pour it all into debt, they'd poll the shareholders for approval to violate the returns commitment.
Once the float gets to < 750M, personally I'd be good with driving the debt to zero and suspending returns to do it. But I'd want to be able to vote on a clear proposal
Johnnydoe, the 50% to direct shareholder returns would surely be amenable to modification with full support of investors at the point the stock price better reflects value if buybacks were then suspended and the divvy driven up to a much higher percentage of the 50% than current and the balance added to debt repayment for an acceleration there.
I know I would 100% support that move.