This reminds me so much of FMG just a few short years ago... (around 2018????)
FMG was printing money, about $1b per month and the price was around $4. (The now ex-wife made me sell at $4.50....)
It was well undervalued, and Twiggy decided on a $500m buy back. It's what started the rocket, now look at them.
Unless they need the capital expenditure elsewhere for whatever they acquire, this would send a clear message to the market. I'd be looking to announce a buy back at the same time they announce the next dividend and let the buyback self-fund itself. I'm patient, so I'm thinking in the next 12-18 months. Thoughts?
Buy Back
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Last
41.0¢ |
Change
-0.005(1.20%) |
Mkt cap ! $498.1M | |||
| Open | High | Low | Value | Volume |
| 41.0¢ | 41.5¢ | 40.8¢ | $360.4K | 877.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 168024 | 41.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 41.5¢ | 80475 | 5 |
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| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| MGX (ASX) Chart |