Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
As is the case with any share repurchase scheme, GAN is under no obligation to buy back the full $5 million worth of stock. The company can also scrap the program at anytime.
Should the company buy back $5 million worth of its shares, that would represent 1.1 percent of its $427.51 million market capitalization. Based on the Nov. 30 closing price of $9.67, a $5 million buyback at that price would remove more than 517,000 of GAN’s 42.06 million shares outstanding from the market.
“We also recognize the value opportunity that has developed in our stock and want to be prepared to act opportunistically during periods when the share price becomes significantly dissociated from our future earnings potential,” said CEO Dermot Smurfit in the statement.
While GAN stock is getting drubbed alongside a variety of gaming peers this year, some analysts remain bullish on the name, with at least one noting it could be a takeover target.
GAN embarks on $5m share repurchase plan
By Gambling Insider
GAN Limited has announced that it will buy back up to $5m of ordinary shares after receiving authorisation from its Board of Directors.
The program will begin immediately and last until 31 May 2022, during which time the company will pay the prevailing market price at the time of acquisition for any shares.
GAN stressed that the authorisation does not oblige it to acquire any particular number of shares, and stated that the actual timing and manner of the buyback will be determined by management at its discretion and is subject to further discussions with the Board.
Several external factors will also play a role, including the market price of GAN’s common shares, general economic conditions, alternative investment opportunities and other business considerations in accordance with applicable securities laws and exchange rules.
The Nasdaq-listed company will use cash on hand and from its operations to fund the repurchase program.
“We continue to believe that the best use of our capital to drive long-term shareholder value is centred around our strategic growth initiatives such as investing in our technology, supporting client launches and building out our Super RGS content portfolio and omnichannel GAN Sports platform,” said GAN Chief Exec Dermot Smurfit.
“However, we also recognise the value opportunity that has developed in our stock and want to be prepared to act opportunistically during periods when the share price becomes significantly dissociated from our future earnings potential. Today’s announcement provides us with an effective tool to do exactly that, support our stockholders and drive long-term balanced returns.
You were right about the drop tricky, it really did dive down this time, sub $10 could be a good level for buying in.
Great to hear the updates and people's opinions as to what may happen next year. Origin will likely keep us in suspense. If I had a choice, I would like Origin to jump onto the Amungee to drill the first 2000 meter well to prove commerciality - before deciding whether to undertake the additional time/expense/risk by stepping out into a new area.. Does Falcon have any say in what Origin decides, it would make sense to get something in the bag first.
Q. How would a successful frack to our EP 76 affect our SP when we sell as opposed to 2 safe fracks in the Amungee? GLA.
"The last few weeks have been eventful as our management team debuted GAN Sports (our sports betting kiosk), our Super RGS platform and other new products at the Global Gaming Expo ("G2E") in Las Vegas. Our growing portfolio of products and content that roll up into our B2B product suite will further expand our position as a premier, holistic provider of technology solutions, popular games and original, exclusive content. We also provided a deep dive into our B2B and B2C strategies, the complexity and value of our technology, and showcased the depth and experience of our broader leadership team at our inaugural Investor Event in October. We believe these initiatives will ultimately yield over $500 million of revenue by 2026 and a long-term Adjusted EBITDA margin of 30-35% at scale. We continue to make exciting progress in each of our business segments and initiatives and are well-positioned going forward."
Price looks like it is starting to rise again, looks like positive news has landed now? GLA
Brisbane Times Article this week
Dr Ross said the CSIRO was funding the study so the result was independent and impartial. An array of major Australian oil and gas players are supplying the study with information including Inpex, Santos, ENI, Origin and Woodside.
NT Chief Minister Michael Gunner said the Territory’s wind and solar resources, as well as suitable geology for CO2 storage, made it a natural fit for the hub.
“The Territory government is committed to working to identify ways to rapidly decarbonise existing energy supplies whilst attracting future zero-emission industries,” Mr Gunner said.
Origin Energy, which plans to frack for oil and gas onshore in the Beetaloo Basin, is also supporting the study.
Dr Ross said the vented CO2, a problem now, could be useful in the future.
“You could start to really build out an industry that’s set for future net-zero,” Dr Ross said.
Low-emissions methanol could be made by combining green hydrogen with CO2. A process called mineral carbonation can permanently lock away CO2 in building materials.
https://amp.brisbanetimes.com.au/business/companies/csiro-to-cast-independent-eye-over-nt-carbon-storage-plans-20210927-p58v6t.html
APPEA Northern Territory Director Cassy Schmidt said APPEA member companies Woodside, Santos, INPEX and Origin Energy will form part of the new consortium in the development of a business case to assess the viability of a large-scale Carbon Capture Utilisation and Storage* (CCUS) Hub outside of Darwin.
I believe that this is a masterstroke and will be the key to the future of the Beetaloos success, and domination of the future energy market. This will will add confidence to any future buyer with a net zero marketing strategy for the gas.
1 Natural gas and oxygen from an Air Separation Unit enters the reformer.
2 A partial oxidation reaction takes place, with the output flowing through the catalyst bed which performs the reformation.
3 The synthetic gas produced is then separated, creating pure streams of hydrogen (H2) and CO2
4 The CO2 is transported by pipeline to be permanently stored deep underground.
5 The hydrogen is transported for use in power, industry, heat and transport.
Business28 SEP 2021 3:00 PM AEST
Gas industry, Northern Territory Government and CSIRO join forces to tackle emissions.
The voice of the oil and gas industry said the joining of the CSIRO, the Northern Territory Government and industry to develop a path towards rapid emissions reduction across the energy sector in Northern Australia is a positive step.
APPEA Northern Territory Director Cassy Schmidt said APPEA member companies Woodside, Santos, INPEX and Origin Energy will form part of the new consortium in the development of a business case to assess the viability of a large-scale Carbon Capture Utilisation and Storage* (CCUS) Hub outside of Darwin.
“This could be a game changer for the Northern Territory as, if realised, it could create a blueprint for future low emissions hubs around Australia,” Ms Schmidt said.
“Australia needs low-cost emissions reduction projects and technologies to enhance its position as a leading energy exporter and ensure international competitiveness in a cleaner energy future.
“CCUS has the potential to deliver step-change emissions reduction and is an important way to not only reduce emissions but create thousands of jobs in the process. Australia has a natural competitive advantage to implement CCUS with known high quality, stable geological storage basins, existing infrastructure, world-class technical expertise and regulatory regimes (environment protection, carbon accounting and reporting, financial services).
“With scale and experience, the cost of CCUS will decrease, creating the potential to deliver competitive, large-scale abatement for existing industries and new industries such as hydrogen and ammonia.
“Hydrogen combined with CCS is an immense opportunity for Australia to fast-track its transition to a lower emissions economy.? Natural gas is the pathway to developing a home-grown hydrogen industry.
“A recent EnergyQuest report pointedly stated that the ‘greatest near-term potential for decarbonisation lies in blue hydrogen (hydrogen produced from natural gas with carbon capture and storage), rather than the much more expensive green hydrogen.’
“APPEA’s members are already at the forefront of hydrogen and CCUS, working in Australia and around the world to accelerate its development.
“Australia’s LNG export success means the Australian upstream oil and gas industry has the technology, expertise, commercial and trade relationships to make hydrogen exports a reality.
“CCUS and hydrogen development are just two examples of the work our industry is doing to reduce emissions.”
The world may just be realising that we are not yet ready for the Eco Ethical Blue Sky Dreaming fantasy that doesn't supply the energy demand the world needs. Proactive Investors article today:
"Oil markets might be a key mover today after a Bloomberg story that China’s Vice Premier Han Zheng had ordered the country’s energy groups effectively to buy anything that burns to keep the lights on and steel factories open.Jeffery Halley at Oanda notes that spot gas prices in Asia are already at the equivalent of US$180.00 a barrel of Brent crude.Gas prices in the UK hit another record yesterday and if China does plan to hoover up any spare supplies “at all costs”, any respite seems unlikely".
https://www.proactiveinvestors.co.uk/companies/amp/news/961935
We may well find ourselves in the right place at the right time, who knows what is around the corner! GLA.
Kier has reported its first annual profit since 2018, as chief executive Andrew Davies announced the completion of the firm's turnaround plan. The contractor made a pre-tax profit of £5.6m in the year to 30 June 2021 - Construction News Thursday Sept 16th
Yes, share price soon falls back down even after good news, more news will soon arrive, don't forget that news isn't guaranteed to be positive.. But below 7p would be a good entry point if the news from our camp, or from Empire were to be good! GLA.
Great to see Tamborans update, they are refreshingly positive and give clarity on what will happen and when results are expected - this is the sort of positivity and clarity that we hope to hear, watch and learn Origin, get rid of the over cautious negativie vibe! Good flow results will surely be of great benefit to us, GLA.
10 Million would be a nice round number to aim for Poods, your probably the only person adding to their tally, everyone else is just about holding on. As you say, the geology is good, as for the timing, we will have to wait and see. GLA..