Post by
Trapped on Sep 05, 2024 12:20am
August Buybacks
Looks like 1.86M shares for roughly $45 million.
Huge monthly cancelation, but I'm not sure of the breakdown of regular monthly buybacks and those just announced related to the non-core asset sale.
Either way, a very big cancelation indeed.
Cheers and GLTA ARX bulls!
Comment by
Quintessential1 on Sep 05, 2024 7:59am
Yeah it looks like they spent about half of the non-core asset revenue sale cash on buybacks so far. Either that or there are a lot more buybacks to come at at this reduced share price. Should be anyway considering they have half of the cash left...maybe. GLTY and ALL ARX BULLS
Comment by
MyHoneyPot on Sep 05, 2024 5:39pm
ARX just got approved to buy back 59,404,376 starting sept 6 for the next year. That is about 5 million shares a month, so a buyback of 1.86 million shares is about 37% if their objective is to repurchase 5 million a month. If they want to buyback 60 million shares in the year, they would need 1.5 billion in cash to fund the share buybacks. Interesting IMHO
Comment by
Trapped on Sep 05, 2024 5:51pm
Thanks for this observation, Bill. Now, get back to the salt mines over at the KEL board. So much pumping to do and so little time!
Comment by
Trapped on Sep 05, 2024 10:30pm
It would be ironic, Quint, and more than a little funny. Some folks need to realize the grass isn't always greener on the other side.