Gear Energy Ltd T.GXE

Large shareholders run this show

[lovehockey]

It was a very promising development for Gear when they announced NCIB filing. It felt like Gear is turning a corner. Share price went up from $0.62 to $$0.79  Then a couple of months later a new statement came out with the announcement that no shares will be purchased. The stock tanked down to $0.66

Let me remind you, Gear is doing it second time in 2 years. Last time they filed for NCIB, spent $5 mln for buybacks, pumped the stock to above $1.60 and then announced no more buyback. 

It sounds as there is a scheme where large shareholders and the management are all on board of having the stock cheap, washtraded and unattractive to the public and institutions while they collect dividends and quietly squeezing small investors out of it. 

This stock will definitely suck in the next year unfortunately

[traderlong2]

I dont think it will suck all year Julys Q release should be excellent with the price of oil Lets give the new guy a chance to build something if 80 holds they will have 11 million FCF at year end that elimates the debt !! then they can look at the ncib or even a divy increase the right move is to get rid of the debt use the interest savings to purchase shares and drill baby drill ! glta

[lovehockey]

I don't think you fully understand my point of view. Large shareholders are not interested in share price increase in the near future. If they did there would be a switch to a buyback. $1.3 million monthly can buy a lot of Gear shares monthly. Instead they are ok with the stock prices toiling where they are. They are likely doing their own buyback by buying cheap shares with the dividends

[traderlong2]

I agree with most of that I own a lot of shares and love the divy almost 9% thats one of the reasons i invested in gxe and the same i take my divy and buy more shares this is a good thing not a bad thing imo insiders were buying last month up to .78 I think the numbers are good and we will see in july we have added some great new management that will want to prove themself's above 74 oil all