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clock Created with Sketch. 11/06/25
16:46
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Originally posted by Alejandro1
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In the annual meeting the CEO mentioned that they planned to drill 8000m at Croydon after deal is done. They intend to do this within 6 months or at most by this time next year. FIRB approval was quick. I would be surprised if they did a buy back of shares from sale of assets. Buy backs, in my mind, are only sensible from earnings not asset disposal. It would also be absolutely stupid to return any of those funds to shareholders when they have so much lucrative drilling to do with the cash. Capital return is only sensible when the firm has nothing else to do with the money. In their case, they have plenty of gold rich soil to drill at Croydon. I am definitely excited to see what drill results they get over the next 2 years at Croydon. I will hold for this, no other reason. I have very high expectations from Croydon especially seeing the last drill results and the proximity to Hemi. Patience is needed here.
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Letting keep all the cash is crazy. They have done nothing value accreditive for years why let them burn up the money on unjustifiable REM.
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