Dominion Diamond Shareholder Pushing for Share Buybacks

The Globe and Mail reported that Caerus Global Investors, which reportedly owns about 0.5 percent of Dominion Diamond Corp.’s (TSX:DDC,NYSE:DDC) outstanding shares, believes the company should make “significant” share buybacks rather than saving cash for an expansion of its Ekati mine.

As quoted in the market news:

Caerus Global Investors said in a statement it owns about 450,000 shares of Dominion, which, according to Thomson Reuters data, is just over 0.5 per cent of Dominion’s shares outstanding.

Dominion is set to start the permitting process for a new area of the Ekati mine, called Jay Pipe, this autumn, and said last week it would consider returning cash to shareholders only after further details on Jay have been settled.

Click here to read the full report from The Globe and Mail.