I take your point and can accept it to a degree, but if the company already has funding for the mine from another source is the buyback money then additional money?
Similarly, if the buyback is getting them for a price below $3.60 then on-selling them to the new entity makes CDU a profit in the long run.
I understand your concerns with CDU and I keep asking similar questions myself but I'm happy with my research and will hold onto what I have in the bottom drawer. Thankfully, I have other stocks to also concern me.
I'm not trying to promote anyone here but I have just finished reading Matthew Kidman's latest book: "Bull, Bears and a croupier who stopped gambling and made millions." IMHO it is an excellent read and I can recommend it to all investors. It claims to be 'The insider's guide to profiting from the Australian stockmarket.' Because of it I have re-focused my research and have broadened the assessments of all stocks I now hold.
If it's any consolation you are one of the few I have not put on ignore.
Cheers
CDU Price at posting:
$3.18 Sentiment: LT Buy Disclosure: Held
