It's easy to say they should've been buying up shares but they're probably just being conservative when it comes to managing the cash. They've got insights into the business we don't have re Europe slowing etc so while it might not be the most optimal approach to cash I can understand it given the situation a month ago was almost the world is ending according to the markets.
They did mention they were looking for opportunities re acquisitions and well sitting on a pile of cash, and most likely a growing pile of cash, is a very handy thing to have when other companies are in distress. I'd say most likely if they don't find good acquisitions you might see a slightly increased dividend but I wouldn't expect them to empty the coffers either.
I'm not a big fan of buy backs in general unless there's a steep discount, if the shares hit 10c I'd be keen for a buyback but 16c doesn't move the needle enough to my mind.
XRF Price at posting:
19.5¢ Sentiment: Buy Disclosure: Held
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