GREY:NWMMF - Post Discussion
Post by
slick05 on Apr 23, 2013 1:34pm
Share Buy Back - Time is now!
Cansidering the price is at an all time low. Instead of wasting $4M on a useless mine, why not shave off bunch of shares outstanding? This is the best time for management to consider this.
$4m @ 1.5 cents is 267M shares. That will leave with 258 M shares outstanding.
$5M @ 1.5 cents is 333M shares. That's 192M shares outstanding.
Reducing the shares outstanding is the ONLY way to expose this company sp with the market and the only way we will see movement in the sp. Having 525M shares is a turn off for any potential investor. It is absolutely ridiculous that a company capable of producing 40k ounces/year has so many shares outstanding.
When the shares were ~250M few years back, the sp was encouraging which drove price all the way up to 19 cents one point. Reserve expansion along with this will benefit shareholders greatly.
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