Its been discussed many times and the main and only reason is that shagangs ownership position will increase and that becomes a problem. The register is already quite tight with the top 20 holding 70% of the shares
We already have the problem of being eligible for the asx200/300 as there is not enough liquidity outside of shagangs holding and the market cap get calculated minus their holding.
We need to be around 80c a share to have a chance
So a share buyback will never happen unless shagang reduces their position and they have no intention of doing that.
The only viable option with the funds is to go underground and develop southdown.
Its been discussed many times and the main and only reason is...
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Last
35.0¢ |
Change
-0.010(2.78%) |
Mkt cap ! $405.0M | |||
| Open | High | Low | Value | Volume |
| 36.0¢ | 36.5¢ | 35.0¢ | $444.0K | 1.253M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 9999 | 35.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 35.5¢ | 25524 | 2 |
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| Last trade - 16.10pm 21/06/2024 (20 minute delay) ? |
| GRR (ASX) Chart |