Morgans who are doing the buy back are the ones dropping it, routinely churning it down couple weeks early April churning and more recently just selling. You can see from the chart since buy back started price has been churned down, I have all the broker data it's a bit on the nose really.
Ultimately there's just not the retail interest and with some doubts over Northern Water the buy side has dried up, I guess it's good in the big picture if company can buy back cheap. However if they destroy the share price it will outweigh any consolidation benefits.
Seems Mulaquana is going to happen SA government has decided to shift it there, just need to move on.
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