I had not considered this as a company strategy before, and it is fair to say that we/Galaxy will have $100 million US next quarter.. (forgetting the POSCO deal)
That's the equivalent of $135 million Aussie, and based on the MS/MUFG announcements would be equivalent (right now) to approximately 10% of the shares on market.
@airconditioner pointed out that Sal De Vida doesn't require all the funds up front, and depending on the arrangements struck up its fair to say that $280 million US along with our money making machine Mt Cattlin should be sufficent to drive the company forward whilst continuing to be debt free.
The question I have... Does the company need to announce to the market that it is going to do a share buy back? I have seen other companies announce them before, but is that really necessary? - I'd like to see the company able to buy via stealth and surprise these fire truckers.
GXY Price at posting:
$3.17 Sentiment: Buy Disclosure: Held
