I don't think buying back shares is the best use of capital IMO. They don't have much of an asset base to consistently generate cash flow to payout distributions. Most of it is in short term loans.
Let's assume they used all the $50m cash to buy back shares. Then what? At the end of the day, there isn't any income coming in.
I would much prefer them to invest in assets that would allow them to consistently pay out distributions. That would organically close the NTA gap.
Because isn't that what we are all here for? The income.
TOT Price at posting:
$1.07 Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)