@marcrae19
Well... Correct me if I am wrong, but isn't the potential SP appreciation from a buyback the ultimate measure of the "solid" return on capital. The value of the company is the SP x SOI.
You would agree that the SP doesn't ever have to "catch up" if the mkt decides otherwise or global conditions change... therefore it couldn't be regarded as a solid return on capital.
Last time we had a buyback, it was sold to the shareholders as making each share worth more ( it didn't) due to reduced SOI with the potential to see the Sp jump even further on the expected excellent results from the Brazil drilling campaign.( Kangaroo West the "biggie" was a complete failure ) however, If the Sp had jumped it would have made the buyback look a brilliant strategy.
End result: money gone, a lower SP and a company ultimately with less cash and lower capital value.
I supported the company against other posters with different views during the buyback last time... I was proven wrong
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Last
$1.81 |
Change
0.060(3.43%) |
Mkt cap ! $1.453B |
Open | High | Low | Value | Volume |
$1.78 | $1.81 | $1.76 | $8.120M | 4.523M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 5782 | $1.80 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.81 | 204687 | 10 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 5782 | 1.795 |
5 | 122560 | 1.790 |
3 | 55916 | 1.785 |
3 | 24670 | 1.780 |
1 | 5782 | 1.775 |
Price($) | Vol. | No. |
---|---|---|
1.810 | 204687 | 10 |
1.815 | 144814 | 4 |
1.820 | 117134 | 5 |
1.825 | 55370 | 4 |
1.830 | 10182 | 2 |
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