With 510 million shares outstanding and 759 million in stated profits on the Yahoo facts file, ($1.40 per share profit) I think there is to much stock to be absorbed by the market. Only 20% is held by institutions and 10% by management. With that many shares in the free market, it is hard to grow the profit per share.
Even with the new production coming on in the next quarter, I think the dividend should be left alone and the additional income of $20 profit on each of 50,000 barrel per day be used to retire up to half of the 510 milliion shares of outstanding stock, if the stock price stays below $6 per share.
I realize that would take board action, but other companies are now seeing that avenue as best for the stock holders.
It appears that each filed of bitumen has slightly different characteristics, Some are best for road asphalt, some for roofing tars, others for waterproofing etc. Most of them now having a range of value from 285 to 400 dollars per ton.
Does anyone know what the final best usage of Lindberg bitumen will be. Since they have a working test hole, it is assumed they have a good idea of their final product characteristics
I placed a call to Lindberg wanting to know what the best usage of their product would be, and got an answering machine that said they would respond.. They have not.