RE:RE:RE:RE:RE:Magna Acquires a producing mine from KGHMMy quick esimate is they will have pro-forma cash at September 30 of about $45M and no debt or prefs. I would like to see them allocate $20M to share buybacks this fall.
With no debt/prefs and cash flows from Borborema starting in early 2025 Dundee should be in a good position to run with less cash on the balance sheet.
Also the market is out to lunch today. Dundee's largest holding Magna Mining is up 15% and second largest holding GMIN up 8% while DC.A is flat...today's increases on those two investment alone is worth $7M to Dundee... Most of the other large mining holdings are way up today as well.
All else equal DC.A should be up ~$0.10 - $0.15 per share today vs yesterday... yet the stock flat.
Too many weak shareholders holding stock that need to be cleaned up with buybacks.