So we have around $42m of cash at JMS... (plus a share of the cash remaining at Tshipi).
Crazy how we remain so cash flow generative during a bad bear market for manganese.
The resignation of the CFO at Tshipi isn't important in my opinion. This is a very simple mine to look after from a financial perspective. The value is in the expertise of the operations guys at Tshipi + the capital allocation decisions of the Tshipi and Safika/OM/JMS Boards.
My view is they should buy back stock rather than pay a divi. This will strengthen the share price and provide valuable currency to do acquisitions.
Ann: Tshipi Declares ZAR500m Final FY2022 Dividend, page-14
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Mkt cap ! $318.5M | |||
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