the last couple of upswings have taken approx 6 weeks and have created higher highs.
if we have bottomed or bottom next week in this latest round of illegal activity, then we could well be sitting at a level above the all time high ie $17+ by the end of Feb.
it maps well with JB approval MC resource drilling results and what they decide to do with the extra US$200m cash sitting on the balance sheet.
I’m not in favour of a dividend and would like to see maximum acceleration of capex to ensure assets are developed asap. HOWEVER, I would be open to seeing a buy back at these levels eg we will commit $300m (us$200m) to buy up shares under $15. this would ensure that share holders are rewarded for their commitment to the company, plus I would be very confident that the capital used would have a positive net return from an earnings per share perspective. Furthermore, the buy back capital which would essentially be funded from the world bank, would be tax deductible as it has been secured/allocated against SDV.
not advice
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