Karl has been buying most if not every day for himself and a sign of his confidence in CDM. At one stage, the SP of CDM was less than the cash at bank which was approx 60% of the NTA. I started buying at 58 cents as a way of averaging out. But yes, a buyback or an accumulation without any real intent to sell, creates a shortage of shares and a decrease in the number of shares available to buy, and therefore reduces the discount to NTA by making the shares more expensive to buy......especially if the company then Cancels the shares. Karl is by far the biggest SH, holding something like 22 mill plus shares.
CDM Price at posting:
88.0¢ Sentiment: Hold Disclosure: Held
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