Post by
Thedondom on Mar 21, 2020 12:59pm
USD climb is good for KUB, but stock trades at half cash val
Company should have around $7 million USD right now ($500k spent on M30). But given that the US dollar has run up over the past couple weeks, that's worth over $10 million CAD today or 3.2 cents a share roughly. Why we are trading at less than half the cash value and no value added to the 800+boed in Ukraine which still gets a huge premium compared to anywhere else is beyond me. Mikhail should just offer 7-8 cents a share in cash and take the company prviate at this point, he already owns half the stock anyway. Or else do a share buyback and with $300k USD he could take the float to 300 million shares even, but eliminate lots of cheap stock. Remember, many old shareholders have costs above $0.10, so buying back 10-15 million shares under 10 cents would change the dynamics very quickly. Mikhail would benefit the most from it anyway.