Mako Mining Corp V.MKO

Liquidity

[james2001]

If mako continues to buy shares out of the market on top of the shares they have already retired and continue to do so going forward will only increase Wexfords control as a percentage of this company as these shares will only come from minority shareholders.you would only have to retire about 6m shares and Wexford woul be back to 50 plus percent control again.This may undo a liquidity problem that the merger helped solve. Am I missing something or was this planned (for).

[AkibaLeisman]

It's a question of magnitude.  You're right that the Gxs acquisition would incrementally increase the float, and l suppose the liquidity as well.   The NCIB would decrease the float.   If you issue 13.2m shares to acquire another asset and buy back 1.2m, the net effect on liquidity is still positive.  wexford moving from 46.5 to 47% (or frankly even 50.1%) doesn'