Max shares repurchased yesterday from Silvercorp's headquarters!
Yesterday (April 22), CEO Rui Feng eagerly authorized purchase of the daily maximum allowed number of common shares under the company's NCIB buy-back plan from their office at Suite 1378 - 200 Granville Street, Vancouver.
Great news for shareholders in that company!
Only, it wasn't Silvercorp buying back shares -- it was the other mining company he runs out of the same office, New Pacific Metals.
If you wonder at the meaning of why Silvercorp has never repurchased shares at these prices, while New Pacific is buying most every week... just fax your question to 604-669-9387 (it's the same number to reach both companies).
As we live a life of ease
Every one of us (every one of us) has all we need (has all we need)
Sky of blue (sky of blue) and sea of green (sea of green)
In our yellow (in our yellow) submarine (submarine, a-ha!)
Yes, I'm sure you're right... the complete lack of corporate support for the repurchase plan is surely causing this stock to perform so well relative to its peers.
I can't imagine why a total dearth of insider buying, or even acknowledgement of the severe price drop by the management, would influence investors not to acquire the same shares the insiders refuse to purchase at any price.
But isn't that what contrarian investing is all about: contradicting the management you trust?
(At this rate, I'm sure there will be much more green daze ahead!)
This tends to happen once in a while after something has plummeted by 50% in so short a period of time. Is it really that exciting watching it simply CHURN at barely a dime above the washout bottom? Or is it more that it hasn't slipped and set off the new 52-wk low flasher that has you this elated?
Good luck getting a response on this, I've tried several times. Looks like another smack down today, and I'm not holding my breath Feng will authorize share repurchase for SVM. Starting to wonder if this is just another Chinese shell game.