FECs SIB and material news? Starting Wednesday, Frontera's SIB begins and goes till October 17. Does anyone know if Frontera can legally release material news between now and then? Or are they pretty much under a news blackout? I honestly do not know.
Frontera is at ~$8.2 cad ($675 million cad market cap) currently. They are offering to buy shares at $12 (4% of the outstanding stock) and thus suggesting their company is worth ~$1 billion cad.
Without any new news, that's a hell of a jump in market cap. That be like Apple saying they feel their company is still undervalued and are willing to pay ~$100 more per share to buy back 4% of the company stock.
End of day, this is likely good for CGX. Too improve the market cap, investors need clarity on Guyana. A likely sale or meaningful JV is needed to increase the value of Corentyne and thus Frontera's assets in that region.