buyback today?, page-24

"You seem to ignore the fact that they sold a heap at $2 and are now buying them back at $3.20."

True Zeds ! but they also bought a heap at $1.90 and sold them at $2.50.

If you read the company announcements the cornerstone investor who is putting in $140m for 20% ( and wants to go to 30% ) wants the copper and have agreed to supply debt funding ( if required )

Do you really think they will just leave their $140m sitting into the ether until CDU fully funds the mine elsewhere (remember these guys have a seat on the board now ?) Well off course they wont. The Buyback is reducing the number of shares on issue which benefits all shareholders including O.W.

Zedster I would fully agree with your argument before O.W stumped up the $140m - I really dont see it as an issue now . So What if the company spends $10m or so on a buyback - They will just re issue the shares or borrow that money from O.W

Cheers Hoot