Let’s say we put $5m towards buy back and at this price we will get around $3m shares and say next 12 months we are trading at $3-$5 then we made between $4m to $10m by investing money into our own shares.
our 12months interest will be around $7m aud. Sometime it worth doing the exercise, only problem is the market will be crazy the moment they say they will buy back shares and sp will go up beyond $2
Ann: Kingsgate Financing Update, page-30
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