GFM, not sure how you calculate the profit on the buy-backs. 14,241,512 shares bought back for $48,213,028 gives an average price of $3.38. With the price now at $1.88, and a definite need for that $48.2m, it all depends how you calculate "profit". Based on today's price, I make that a loss of $21m.
As for an idea as to how to generate $8m, if the company had stuck to their late 2012/early 2013 timescale, commissioning would be finished by now and they would be in full production - and if they had stuck to the $200m Rocklands Project Cost as per the 1st March 2011 announcement well, they'd be about $124m better off compared to the costs of $324m at 30th June 2013 (actual spend plus commitments), per the annual accounts, with at least tens of millions still to spend. With numbers like those I struggle to see the picture of WM as a financial genius as portrayed by some on here.
BRETTO, you aren't suggesting that the buy-back was an attempt to influence the sp, are you?
CDU Price at posting:
$1.88 Sentiment: Sell Disclosure: Not Held
