Birchcliff Energy Ltd T.BIR

600K Shares Bought Back @ $6.46

[PlutusofCrete]

Big purchases on Friday last week. 

We'll see if there were more today or if the last big purchase was done right before the listing on the TSX index.

[dandu1924]

This is a very good sign for the future.  The quality of company are: a)The team focusing on their target. b)The management still on their plan c)The FCF  is growing d)The buyback e)The dividend ( will be increase ). So BIR working well about that.

[MrMjau]

Can't they do buybacks when they are on TSX?

[PlutusofCrete]

They have always been on the TSX....only change is they are now on the Index.  They can definitely still do buybacks but my guess is that it ends here.  I expect debt to be paid down and pref shares class c to be redeemed in the coming months.  Share price will stay afloat in the $6 range unless we have a big negative market event.  Next stop on the train should be $8-$10

[MrMjau]

Ok ty for reply. Yes lets hope they go redeem the prefs and pay down debt now. Bir is my largest holding, but the one I spend least time on. Tonken got this!

[andy604]

I agree, its a hold now til we get the Nov 3rd  and   its quarterly report time, or cold weather. Or maybe a surprize in between.