Mako Mining Corp V.MKO

Akiba

[Epic2022]

What would Wexford think about NCIB considering they've put a hold on repayment interest? 
Probably not the intention.

[AkibaLeisman]

Not sure I understand the question.  The NCIB was always 2nd priority to debt repayment which itself was always 2nd priority to exploration and growth expenditures.  Of the $35m or so in mine OCF we've generated since the mine turned on, around 400k was used for the NCIB for 2m shares.  It really is there to provide liquidity in case our valuation was out of whack with our peer

[Epic2022]

My question was  The critics expect NCIB when stock falls as opportunities  Wexford deferred interest for exploration purposes probably not for NCIB purchasing is what I meant.

[AkibaLeisman]

When gold prices fall, it obviously slows down the pace of debt repayment. And given that the NCIB is a secondary priority to that, it would lower the pace of buybacks too unless we trade completely out of whack with our peer group (which we haven't).   Exploration, and preparing for doubling production remains the top priority, and if we need to extend the debt (like we did) or add