My opinion re buybacks has some merit but a very slow process and takes ages to see the end result, if ever as we are only using a relatively small cash buys, however, reduces further dilutionary effects which may prevent consolidation down the track.
Re dividends also has merit but again paying a tiny 0.1 of a cent as an example mentioned, goes nowhere and a serious waste of cash. Dividends have to be much higher for it to be effective and importantly incentivise new investors and grow our SP.
So, as I see it the only real option for us is to continue doing as we are, acquire more land and aggressively keep drilling more wells (why change what seems to be a great working business model and a finely tuned drilling team) and this should exponentially grow our business and income from a small tier producer to a significant mid-tier producer with multiple oil wells all earning significant income, then in turn we should start to see our very unacceptable low SP increase back over 3-4+c.
Then once we have achieved much larger oil producing field/wells all earning significantly more income coming into the business, then hopefully the real incentive to reward holders finally with a healthy SP is to entice a formal TO. That's how I see it. Now back to reading occasionally, commenting a few times a year. GLTA.....
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Mkt cap ! $52.50M |
Open | High | Low | Value | Volume |
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Buyers (Bids)
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---|---|---|
36 | 38483726 | 1.1¢ |
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Price($) | Vol. | No. |
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1.2¢ | 9025339 | 16 |
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15 | 17411820 | 0.010 |
8 | 6920014 | 0.009 |
4 | 435248 | 0.008 |
4 | 1221714 | 0.007 |
Price($) | Vol. | No. |
---|---|---|
0.012 | 8974789 | 15 |
0.013 | 28218680 | 30 |
0.014 | 21323997 | 17 |
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