Post by
looking on May 16, 2024 5:03pm
Rising diluted outstanding shares
On Mar 31 2021 we had outstanding shares of 94,829,854 and as of Mar 31,2024 we have 103,111,227 outstanding diluted shares. I understand we raised some funds as a safety buffer and exploration for a total of approximately 3,700,000 shares but how many shares were create in options,RSU's,PSU's,DSU's and flow through shares to reward management and employees ? So when we by back shares over the next year then add back new shares create that they reward themselves.
with the high metal prices now present Mag started the buyback earlier than expected. George in one of last videos talks about getting our bank balance between 90-100 million which will give us a run line of 3 years for exploration and cost to do business. Once met Mag would look at buy back and rewarding their loyal shareholders with dividends.
well the buy back has now been implemented ahead of the 100 million dollar float.....so what happens to the dividends?
Can't they do both do a buyback and giving shareholders dividends. With the approximate 104 million shares outstanding a meager 5 cent a quarter dividend which would equal 20 cents a year would cost Mag 20.8 million dollars.
Time to give to the shareholders.....
Comment by
Retiredgeo on May 16, 2024 5:20pm
I believe that he said dividends or share buyback. Clearly the dividends are no longer on the table.