Mako Mining Corp V.MKO

Insiders

[barrywhit]

I see Akiba has picked up another 271k in the open market..

[Method]

  more buybacks too on Thursday and Friday for 500k shares in total. 

[barrywhit]

method, I'm afraid i don't see any benefit in the buyback, just pay off the debt quicker. Any shares they purchase will only be replaced with options later on in the next few years.. We have over 680million shares buying back 30million odd shares won't do a lot for the share price IMHO

[Method]

  i couldn't disagree more. When you consider what the free float is after Wexford, insiders and a few big shareholders, the real float is < 250m shares. Add to that, the share turnover being so low implies pretty strong hands so 30m shares of buying would allow the stock to go up a lot easier. The debt is kind of irrelevant in the discussion as it's being paid off regardless

[AkibaLeisman]

I wouldn't call the debt irrelevant, as it exists.  But it is being paid off quickly (> 6m since q3, with another principal payment later this week).   But everything else you said is spot on.  We have a seller who clearly is not responsive to new information.  If someone told me in July 2020 at our last equity offering of 71m units (30m going to non-Wexford

[Method]

Thanks Akiba. I mean irrelevant in the context of buying back 30m shares. The debt will be paid off well before 30m shares are bought back based on my interpretation of your capital allocation plans. I love the concept of a negative interest rate loan with respect to the buyback under 40 cents. Brilliant!