RE:NCIB are waste of shareholder $$$ I appreciate your stance but I believe the two situations are different. I have been vocal that buybacks at AOI were a waste of money and only rewarded mgmt. AOI has recurring cash flow and should up their dividend.
i see ECO as different in that they accomplished the goal of getting a carry on a major prospect. Hopefully they can repeat this. A buyback, albeit a small one would preserve enough cash while buying back shares cheaply in the waiting period.
just throwing out loose numbers say they buy back $1,000,000 usd of shares at $.14 USD so 7,000,000 shares.
When Total goes ahead with drilling the SP should appreciate. Say it goes to $.20 a share. Those retired shares would have a value of $1,400,000 if reissued.
i cannot see a high ROI prospect on the horizon and we'll have more than enough cash with a currently low SP.