Like I said @RookyKid, I am not saying they should be buying AFM shares, I am just highlighting it would represent a better potential for 'return to shareholders' than 1SN which is literally years away from being any potential return, or cash which is about 10% of the IRR of AFM.
@binwood if I wanted to buy a resource shitcos I wouldn't buy shares in $380M MC midcap MLX, I'd buy shares in $20M MC 1SN. They're different investments and you have different expectations from them. As I've stated, today and prior, I like the 1SN purchase, it just means nothing over a medium timeframe and probably means nothing for my investment timeframe. MLX rose significantly on announcement of the buyback - 79% from pre announcement to peak. Imagine raising equity at a much higher price (driven by buyback) to fund Rentails with a mix of debt and equity (which could also be years away even if they make FID in next 12 months). Seems nonsensical to hang on to 50% cash, which may or may not be used on a project that may or may not be years away.
They've already allocated circa $34M to a buyback that isn't happening - why not at least lift the ceiling a bit and let it actually work?
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Like I said @RookyKid, I am not saying they should be buying AFM...
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Last
41.5¢ |
Change
0.010(2.47%) |
Mkt cap ! $376.0M |
Open | High | Low | Value | Volume |
40.5¢ | 42.0¢ | 40.5¢ | $571.6K | 1.383M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 50076 | 41.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
42.0¢ | 253197 | 5 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 25076 | 0.410 |
7 | 159672 | 0.405 |
4 | 362462 | 0.400 |
4 | 94582 | 0.395 |
3 | 144000 | 0.390 |
Price($) | Vol. | No. |
---|---|---|
0.420 | 253197 | 5 |
0.425 | 190076 | 4 |
0.430 | 125178 | 4 |
0.435 | 83000 | 2 |
0.440 | 132500 | 5 |
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