buyback is on !, page-48

Aka,

Clearly CDU dont have all the cash that they need to tide them over until mining is cashflow positive.

Therefore spending cash now on something unnecessary is a waste as they will need to raise cash again.

I seem to recall that at the end of the previous buyback, CDU was paying more than $3.80 per share. they certainly didnt get a 20% return on those buys.

What is the point of the buyback? It seems to be there really to support the shareprice. It doesnt matter what the price is over the next 12 months. Why bother to waste resources on that activity?

It wont look too smart if they need to raise cash next at $2
a share again.