Africa Oil Corp. T.AOI

Share Buybacks

[Malpeque2]

Company has repurchased 10% of the total they are allowed in about a week or so,  given that they have authorized 40M over a 1 year period. 

IMO the scale of these buybacks in such a short amount of time and as a percentage of the overall share volume IS driving the share price higher.    

  i don't understand why they would do so much so fast.     I have been and am in favor of these buybacks but the near term scale is a bit excessive.   

I hope KH and the BOD have a plan to do a Substantial Issuer Bid  IF  this NCIB is completed substantially before the 1 year deadline.

[DAGUY]

I agree it is probably driving the price higher, but if you look at what they can buy during a single day and how many shares have been bought each day, i think that others are liking what they see now too.  I also think they will slow down buying as the share price goes higher, but if it goes down they will keep buying.  JMO

[toptiger]

agreed, with only 25% able to be bought which is significant, there are others loading up thats for sure, and would like to see a significant holder announced wonder what their ceiling is for buybacks ? certainly $4 but thats a long way off, but would think 3.50 is questionable, unless they know what might be coming

[DAGUY]

By significant holder do you mean top holders for AOI stock? I found this several times, not sure it is accurate to date but it shows on a site called MarketScreener...  Shareholders Name Equities % Stampede Natural Resources SARL 66,569,922 13.9% Fidelity Management & Research Co. LLC 19,592,101 4.10% FIAM LLC 3,646,047 0.76% Dimensional Fund Advisors LP 2,837,107 0.59

[firstworld]

Now that the Qatar 330% partner in Venus wants to drastically accelerate development with Total and partners plus the Saudis telling Nazi supporters to pound dirt expect all free Prime cash to be allocated to various development projects that won't generate cash for 3-4 years at best. I expect AOI will cease share buybacks very soon because they need to conserve every penny since won't be

[Esiiiii]

Hehehe firstworld, you sold out right, at like 2,15 cad or so. Thought you are a super star trader. No you are a gambler, that had a few lucky hits. Now you are on the opposite side on that trade and its like never going back so you rage with unsympatethic and pathetic posts. That wont help you. Shouldnt think so highly of your skillz, stand to lose a lot more.

[firstworld]

Haha I bought at 2.15 and sold at 2.85 and 2.55 sold at 2.90 in the last two weeks or so....cant get the highs and lows ever though I did it once. Used that cash pile to swing trade NCLH twice in one week for a 20 % lift. Looks like I will do another huge NCLH buy today. Made so much on this since March 2020 it paid for my G Wagon and a 42" 2800 HP fast boat in Cancun that I rent out to