Is X64 a growth company? Perhaps if management chooses to reinvest the cash pile rather than distribute to shareholders, but there is no reason for management to do so. There is no guarantee that 'growing the company' will increase the share price. I have no confidence that the board can make a decision on how to invest my cash better than I can. Mergers and acquisitions are often destructive to a companies share price.
I bought into medusa because it had a great asset in the mine in the Philippines which is earning free cash flow and as a shareholder I want to receive this as a return on my investment. If I want to invest in an explorer or another producer I can do so myself with the distributions from the company.
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Updated Press Release on NOM of the Convening Shareholders, page-70
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