RE:RE:RE:RE:New here, here's my take. Sonoffergus, I know you areWell, the SIB was to repurchase almost 4 million shares and ten months into the program, far less than half that number have been repurchased. I doubt BMO actively manages their purchases to try and maximize share price. More likely, just randomly buy far less than authorized with little regard to timing and price. When you have invisable company, that does nothing to promote itself or share price and set up share buy back propram that appears to be managed about as poorly as CC/FEC/CGX are. (de Alba)
I doubt anything helps until they sell an asset or the entire company. That is the only reason I am hanging on. The Bahia port alone, is surely worth a $Billion as they have about that much invested into it since 2015 and still investing into it. To have a modern and very rare, very deepwate port so close to the Panama canal and have it soon to be connected with a 2 way pipeline to a refinery makes it one of a kind. Surely, Goldman and the Chinese have discussed a deal on the port or even better to have the Chinese buy FEC intact so the port is hidden inside the transaction, as surely the US would pressure Colombia not to allow the Chinese to buy the port.
"On November 16, 2023, the Company announced the renewal of its normal course issuer bid to repurchase for cancellation up to 3,949,454 of its Shares over the 12-month period commencing on November 21, 2023 and ending November 20, 2024. As of September 3, 2024, the Company has repurchased 1,552,100 Shares at a volume weighted average price of $8.21 per Share under the current normal course issuer bid. The Company made the purchases on the open market. The Company has suspended purchases of Shares pursuant to its normal course issuer bid until after the Expiration Date or the date of termination of the Offer."