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Silvercorp Metals Inc. Message Board

  • asianvest asianvest Jan 3, 2014 6:03 PM Flag

    Buy-back plan: ONLY 4 weeks left -- ZERO shares repurchased & 8,500,000 still to buy!!!

    Silvercorp's 8,500,000 share repurchase program (NCIB) runs Feb 1, 2013 to Jan 31, 2014 and permits the company to repurchase up to 55,693 shares/day (with exceptions).

    Weeks since inception: 48
    Weeks remaining: 4

    Open price on Feb 1, 2013: $4.43
    Last close on January 3, 2014: $2.42
    Decline to date: 45%

    Shares repurchased to date: ZERO
    Insider shares purchased to date: 30k
    Insider shares sold to date: 25,899

    Insider option grants awarded concurrently: 963,000

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    • asianretardedvest

    • Yes, thank you. As was mentioned by another poster, if what you say is true, turns out to have been a good move. You are trying to raise some sort of alarm over what turns out to have been a wise decision. Thank you SVM. #$%$ asianvest.

      Sentiment: Buy

      • 1 Reply to mikeinwestsac
      • Mike, for once, we agree! I too thank SVM for not repurchasing a single share so far... nor the management buying any personally... because this is the flag to me that they didn't think the shares were a good value when they announced the buy-back plan at over $4, nor do they have any interest now when it trades at half that price -- and that gives me the confirmation that it is still a good stock to be short.

        You don't seem to be very interesting in spending a few minutes to do your own research on this, but if you look at the SEDI CA site and do a search for SVM's transactions during the year 2011, you will see that they also had a repurchase plan then -- and at that time they were actively buying back the shares and reporting all the transactions on SEDI like they are required to do. (I'm not sure why you have decided that Canadian public companies are not required to file insider trading transactions, but you are mistaken... they do disclose these trades. And that is how wise investors stay informed.)

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