CLE cyclone metals limited

buyback a failure, page-13

  1. 487 Posts.
    Agree with both sides.

    Long term hopefully buyback will prove profitable.

    Short term, I don't understand why they needed to buy 12M at 68 or 69c when now they could have bought 58c. It's obvious math that they bought unneccessary for an inflated price. There has been no substantial news since then, no need to drive up the price from 55c to 70c+ with 12M in a day. I do not know what they could have been thinking. The buyback wasn't in place to support the shareprice because as is now evident, eventually the price will revert back to unsuppported levels.

    Somebody mentioned it's easy to say in hindsight which is true, but it didn't take much foresight to figure out once the buyback was over the shareprice would fall. I could have told them that. They could have taken their time at 55c and bought as cheaply as possible, dragging out that last 15M for as long as neccessary.

    If they weren't going to enact a second buyback, or if good news wasn't imminent, like I said before, buying back 12M in a day at 69c was erroneous IMO.
 
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(20min delay)
Last
5.9¢
Change
0.000(0.00%)
Mkt cap ! $64.98M
Open High Low Value Volume
6.0¢ 6.0¢ 5.7¢ $187.7K 3.159M

Buyers (Bids)

No. Vol. Price($)
1 9000 5.6¢
 

Sellers (Offers)

Price($) Vol. No.
5.9¢ 249142 2
View Market Depth
Last trade - 16.10pm 18/07/2025 (20 minute delay) ?
CLE (ASX) Chart
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