@marcrae19
Well... Correct me if I am wrong, but isn't the potential SP appreciation from a buyback the ultimate measure of the "solid" return on capital. The value of the company is the SP x SOI.
You would agree that the SP doesn't ever have to "catch up" if the mkt decides otherwise or global conditions change... therefore it couldn't be regarded as a solid return on capital.
Last time we had a buyback, it was sold to the shareholders as making each share worth more ( it didn't) due to reduced SOI with the potential to see the Sp jump even further on the expected excellent results from the Brazil drilling campaign.( Kangaroo West the "biggie" was a complete failure ) however, If the Sp had jumped it would have made the buyback look a brilliant strategy.
End result: money gone, a lower SP and a company ultimately with less cash and lower capital value.
I supported the company against other posters with different views during the buyback last time... I was proven wrong
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Last
$1.84 |
Change
0.100(5.75%) |
Mkt cap ! $1.474B |
Open | High | Low | Value | Volume |
$1.79 | $1.85 | $1.78 | $10.19M | 5.568M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
5 | 40861 | $1.84 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.85 | 25012 | 5 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 5782 | 1.840 |
1 | 5782 | 1.835 |
2 | 6327 | 1.830 |
1 | 5782 | 1.825 |
4 | 19782 | 1.820 |
Price($) | Vol. | No. |
---|---|---|
1.845 | 16403 | 3 |
1.850 | 15595 | 3 |
1.855 | 5782 | 1 |
1.860 | 9767 | 3 |
1.865 | 5782 | 1 |
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