The way I read it is "we currently have $180m in cash and we have a few opportunities we are working through at this stage" being:
1) Commitment to support Rentails: "Progress on Rentails, the details of which have not yet been finalised."
2) Acquisition: "Maintain a healthy cash balance that will allow it to pursue a growth by acquisition strategy" This would be to support/takeover firs tin or other similar operations.
Until they have the finalised detail on Rentails they will continue to hoard cash. Once the detail is known, they will either: 1) commit the cash to Rentails if positive, or 2) scrap Rentails if not economic.
I see zero reason for MLX to buy AFM shares. If you wanted AFM returns/dividends you can go and buy AFM shares.
"Any realised value is a long long time away" This is why you and I are different to management. They are not here for a quick buck. They see and play the long-term game.
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2 | 22661 | 0.425 |
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Price($) | Vol. | No. |
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0.445 | 64489 | 4 |
0.450 | 20000 | 1 |
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