wrt to the SoI, once Antler is producing AND NWC has Net Income (not EBITDA) , real FCF (so after any sustaining Capex) then the company can choose to distribute that cash to shareholders ... and since I don't particularly want a dividend from NWC (I do with other stocks) but rather a share buyback. Concern with that is companies are not all that quick to cancel the shares but prefer to keep them in their "treasury" ... if so then at least they don't have to print more to feed any incentive plans.
Reducing SoI via consolidation is "smoke and mirrors". In US particularly it is a "solution(?)" to listing requirements of a certain minimum share price requirement.
Remember the PFS...
Current MCap of what ~AUD$60M ... heck even if we only keep half the project we have more than our present MCap in FCF in a single year (average FCF so not in year 1 or 2) ... and it wont matter if we have 4B, 400M or 40M SoI. Buying back 1B shares at $0.04 is the same as 100M and $0.40 which is the same as 10M at $4 ... they all calculate out to $40M
Could buy back lots of stock if desired and mgmt think stock is undervalued ....
What are we for SoI after this raise ... ~4B?
NWC Price at posting:
2.2¢ Sentiment: Buy Disclosure: Held
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