Lots of people really jumping on share buybacks, but most likely this will be a sell from retail and yes- price will go up a little on shares.
BUT, there is a share issue of 400 million- which is not huge... and can mean that that the Instos can really control the price due to the tighter register. Can’t really see a huge benefit in share buyback- just need to be patient! A few negatives in this report- unfortunately we’re last to know- now we know why the shorters we’re having so much traction, but with major steps up from here to Xmas there is also lots to like.
my take is shorters will play with this a bit longer but at these prices I’m looking to sell a couple of other holding I have and grab some cheap GXY shares- because shortly they will turn the corner- cash is rolling in, big Posco stash tucked away and we’re shortly doing more developing.
Great Time to fill the Xmas Stocking full of GXY- I’m happy to wait and accumulate more at these prices!
