I sold my coal shares today, but luckily did not lose.
A buyback helps any existing holder. As it stands now, me as a holder of about month, is no different to one of four years. But if you think the cash flow is better used to buy or find more gold, then that is a viable plan
I have just seen too many small gold miners take all their profit and look and look and buy and buy until they have lost all. They use a steady profitable mine to hunt for riches. The shareholders lose out. The board and management make out like thieves as they pad their pockets year after year.
A buy back will help holders as well as management (since they hold)
But a good problem.... suddenly millions each month into the bank. What to do with it? It will be a test of management's wisdom and their greed and their knowledge of the mine and location and industry.
BCN Price at posting:
3.9¢ Sentiment: Hold Disclosure: Held
