All the buyback does is concentrate ownership by utilising shareholder capital as an insurance policy, basically cementing Chinese ownership by proxy. This, in turn, discourages other fundies even more, at taking stronger positions.
What shareholders will really need to rely on is a distribution after buybacks are complete, because at present the company is just another shitco, where you hope external maret forces allow you to sell at a higher price, to some other sucker.
If they nominated a single cent distribution, the sp rise would melt your computer screen.
All they have at present is a vague promise of some completed dfs/pfs, or whatever fs everyone hangs their hat on for hopeful sp growth this year, but even then they are happy dragging their feet.
Actions speak louder than words and the current price looks to be supported by the current buybacks, which keeps the levels sitting on the 10 ema.
This company is a potential little gem that could help investors retire once there is a bit of change put into their pockets...
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