More buying from FairfaxFairfax keeps buying.
Friday they reported buying another 25,600 shares.Last week, they reported buying
678,300 shares bringing their total holding to 33,636,195 shares or 18,23%.
Prem Watsa is knowned to be an astute investor.
There is no rush to try to do a deal right now with Murray Edwards to have
Ensign go private since M.Watsa can gradually pick up shres at a cheap cheap price
on the open market.
The good news is that these shares are not going back to be sold in the market so the float
is shrinking.
Taking Fairfax, Edwards and the top other 8 investors get us to about 89 million shares
leaving only 96,000,000 outstanding.
I can see not today, not even in a month but down the road maybe Fairfax taking a run at Ensign.
But for that to happen, it would need the approval from Murray Edwards.
Staying long with my small position for two reason.
1- because the fondamentals of this sector is improving and 2025 is forcast to be better than
2024.
2- Their is a small but possible possibility to see Fairfax taking the company private.