AKITA Drilling Ltd T.AKT.A

Annual meeting

[lifeisgood1010]

I did attend the virtual annual meeting today.

Colin Dease and Darcy Reynolds seemed quite upbeat for H2.They said that they think they will be running 12 rigs in the US from 8 right now.

They also said that CDN and USA will be strong in Q4 and should be firing in 2025.

Is this whisfull thinking?

They reiterated their goal of debt reduction of 15 to 20 million in 2024.

Why are investors selling at $1.47 is a conundrum to me.

I am keeping my shares.If the story folds like mngt think the market is heading, i will be rewarded
greatly if not, my Akita shares will be dead money.

[blindpig]

Akita has always been a well managed company that is why I made my first investment in it during the financial crisis. Yes 15 years ago. My only saving grace was buying piles of shares for $0.30 during Covid to get my cost average down to about break even today.  Even if they do marginally better in the 2nd half, as they likely will, it won't make much difference in the stock price. Maybe

[lifeisgood1010]

Good morning Blindpig, Couln't agree more with everything you have written. I presently own 97,600 Akita shares so probably a lot less than you. The dual share voting rights is also keeping the share way under what it should be  valued at. For now, we probably won't see much appreciation in the SP. But if and again that is a big IF, C.Dease and D. Reynolds statement of

[blindpig]

Thanks for your reply lifeisgood.  I'm prepared to be patient. I own 1.5% of Akita in a well diversified portfolio of a dozen companies and do agree with you that the dual structure is hurting the valuation.  One of the Southern sister had her picture in the globe today discussing their $2 billion gas pipeline project from Edmonton to Fort Saskatchewan.  Perhaps they'll come

[lifeisgood1010]

I too thank you for your reply and posts. I am a very patient investor,that makes at least two of us as Akita shareholders. At the virtual annual meeting, i tried to ask a question on the web conference but from my P.C. it wasn't allowing me. Too bad, i would have liked Ms.Southern to respond to the dual class unfair and obsolete structure. Once in a while, i write to D.Reynolds and he