Fully agree. At these prices regis is closer to distressed and its scrip extremely cheap, and why i firmly believe the primary corporate focus of the board should be on strengthening the stock price to stave off hostile takeover, as well as providing other options for M&A down the line.
Even a token buyback of lower value would be a strong signal to the market. I bought into NST the day it announced a buy back at a price 7.30. There were othrr factors of course and had been watching for a bit but the buy back near forced my hand.
You mention WGX... compare its market cap to RRL and then look at production profiles. RRL is damn cheap (for a reason given past management calls), and the priority of board should be restoring confidence to help restore confidence and improve the share price. A buy back turbo charges and buttresses this. my perfect quarter is 100m cash generation, and 15-30m going towards a buy back over the next year. Pay down debt and strengthen balance sheet with rest. at 100M, plenty left over for capital requirements.
Ann: Quarterly Activities Report, page-59
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Last
$2.54 |
Change
0.060(2.42%) |
Mkt cap ! $1.918B | |||
| Open | High | Low | Value | Volume |
| $2.56 | $2.59 | $2.54 | $11.38M | 4.463M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 40092 | $2.53 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.55 | 26938 | 2 |
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| Last trade - 16.10pm 08/11/2024 (20 minute delay) ? |
| RRL (ASX) Chart |