I'm going to napkin doodle a few numbers for my own (and hopefully your) entertainment:
MLX are currently making ~A$25m profit a quarter there are 65 working/trading days in a quarter (ignoring public holidays etc.) thus MLX are making just under A$385,000 a day The total value of the buyback to date excluding yesterdays purchase was A$374,198... less than one day's profit Yesterday's purchase (at up to 40c, let's not ignore the positives!) of A$53,698 represents ~14% of that days cash build
If we were hoping the buyback might direct some of the cash pile to us via the SP, well at the current rate it will be a long wait! MLX is still amassing cash much, much faster than it is returning it.
MLX Price at posting:
39.8¢ Sentiment: Buy Disclosure: Held
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