Jul. 31 at 5:00 PM
$BTG over the next 12 months(11now), you get 2.4% dividends to reinvest. The company will fully pay off the ounces it owes(call it
$500MIL). What i dont know, is if they will have positive CF beyond that. If so, they should be buying back shares aggressively(they do have the liquidity to buy with debt in addition to cash). After that it seems like north of
$500MIL FCF but i dont have a great handle on if it could be materially higher than that, maybe.
More divs, buybacks, improved balance sheet, huge financial flexibility moving forward.