……..The frustration of the market not really recognising the...

……..The frustration of the market not really recognising the value that we’ve built into this business so we’ve added this new initiative to enable us to buy back our shares in the circumstances when the market is not giving us this value……

so said DP in a recent interview.

Thus a clear intent to increase shareholder value through this mechanism, and although I’m not sure about any share price he had in mind I’m pretty sure it’s a d*mn sight more than 1.6c.

now I don’t know the tactics of a share buy back, but , say for instance there was nothing available at 1.5c , but 5 million available at 1.6c, then to buy those 5 million shares would only cost an extra five thousand dollars, a neglible premium, and a great range finding shot to see how the land lies, so to speak.
If another 5 million appeared instantly for sale at 1.6c, then it might make you wonder is there a titanic sized iceberg lurking in the background.

although it’s only been a week or so I’ve been a little disappointed at the timorous way the buy back has proceeded.

in fact if it keeps going this way I might take to the odd glass of vintage claret too