CDN drillers ranked by activity levelsI do agree with you Blindpig that they could do the 3 as you say.
While they have never done a NCIB,i think that there is a good probability that they
will initiate one probably in Q2 of 2025.
I would like them to do it sooner to take advantage of this crazy low valuation but i think that they
are prudent and want to reduce the debt even further even if Akita is the lowest indebted driller
right now.
Let's not forget that this was a debt free company prior to the Extreme Drilling acquisition.
I guess they don't want to relive the pandemic era.
In any event, with all the excess cash flow coming there way, they will deploy it in a way
that will benefit remainding shareholders where it to be more debt reduction, NCIB or dividend or a combination.
Again today, the shareholder at Fidelity is placing order to sell is position at $1.75
Now, there is a huge amount for sales (57,000 shares at $1.74).
How many more shares does he have?We will eventually find out.
If Akita had a NCIB, thay could take advantage of this investors cashing out.
It is what it is.
Have a nice day.