Supatcha Resources, www.supatcharesources.com – the Ukraine-focused precious metals developer pursuing a strategy directed towards becoming a large, primary gold producer, reported approval today of a share repurchase program by SAEI’s Board.
Calling for the repurchase of up to $3M in common shares, this program is seen by the Company’s Board of Directors as a shrewd, liquidity-driven move for SAEI and its shareholders, which will not impact overall growth activity.
CEO and Director of SAEI, Nikolae Yagodka, confirmed the undervalued position of the Company’s stock, explaining how this repurchase program would benefit shareholders.
Yagodka cited improved future EPS due to the reduced number of outstanding common shares as being among the key factors in this decision, a decision which ultimately reflects the high confidence of SAEI’s Board in the continued success of the Company.
Yagodka stated that SAEI’s shareholders continue to be the Company’s most important asset of all and conveyed a strong sense of confidence that rewarding them should be a top priority. He also cited an incredibly strong global market for gold, upward future trends which are further influencing the market and an overall positive outlook about the gold market’s future as abundant evidence for SAEI shares being markedly undervalued.
Repurchase of stock under the program will occur in accordance with extant securities laws, legal requirements and will be based upon prevailing market conditions. The plan may be discontinued at any time if scheduled periodic reviews by the Company’s management deem it to be fiscally unsound and all purchases will be made with available cash.
This is very good news for SAEI shareholders, who can also look forward to the Company’s forthcoming NI 43-101 technical report on its Barlevskoye and Vynohradiv gold projects (Dec. 05 this year), which should pave the way for a preliminary economic assessment and financial feasibility studies for converting those resources into reserves.
Between a liquidity driven repurchase program validating an undervalued stock price and promising further developments towards its goal of becoming a major player in the global gold supply chain, SAEI is worthy of additional due dilligence.
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