Johnlucas, the context of this may be a bit misleading. It is worth pointing out that the Directors sold shares in order to fund the acquisition of their options and pay the associated tax liability on the share disposal. As a result their holdings have actually INCREASED in the company. Refer Appendix 3Y notices dated 25th September 2009 for clarification.
KAR does hold cash to pay for its current drilling program - refer Annual Report.
Nexus and KAR are chalk and cheese. Whilst Nexus may have some cashflows, they do not have the potential resource that KAR is chasing - doemstic & international (and hence the reason why a Director may have left NEX to pursue greater opportunities), nor do they have a JV partner in the likes of ConocoPhillips.
Good luck with Nexus, but I prefer the management quality and resource potential of KAR anyday !!
taking for a ride, page-2
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$1.32 |
Change
-0.050(3.65%) |
Mkt cap ! $1.030B | |||
| Open | High | Low | Value | Volume |
| $1.35 | $1.36 | $1.32 | $4.828M | 3.607M |
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| No. | Vol. | Price($) |
|---|---|---|
| 52 | 222604 | $1.32 |
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| Price($) | Vol. | No. |
|---|---|---|
| $1.33 | 75328 | 50 |
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