@coto, please don't pin your hopes on that.
I don't think there is any intent of using the buy back to push the price up. Firstly that would not sit well with ASIC. There are rules (like the one I shared earlier) to discourage that. Else every company will start doing that to keep their SH happy. Secondly, I was told they were waiting to buy back since the announcement and will buy back once the price dips below a certain threshold. Don't think they want to buy too many at or over 1 c.
Don't know what you mean by
'main drilling program' - there is no reference to primary and secondary drilling program in any of the announcement. There is just one drilling program now. My understanding was we are already into the drilling program and there is no way KRR mgmt or anybody for that matter can tell what the results will be from each round of drilling. Like you said before the last round was dud. Had they known earlier they wouldn't have drilled there.
Plus the buy back is set to expire on 25th July 2024. We are yet to ascertain if the land has dried up. That won't happen till close to end of April. Given the past track records, by the rigs go in drilling finishes we could be looking at end of May to mid-June (Last round of drilling started on 15th Nov 23 and ended on 18th Dec 23). If the drilling finishes in early to mid June then by when should be expect the results. Round 1 drilling results were announced after 2.5 months. By then the Buy back will expire.
as for 'We are set for nice 3x.....'. There is no guarantee. We could be 30x if we hit something great and we can end up being 3x under if the next few rounds a dud like the last one.
That's why it is important to hedge and drill multiple sites concurrently or in quick succession so that at least one of them returns a good outcome. Also not sure why Kurundi is being pushed aside. it should be one of the first sites to be drilled given the success we had in June 2022.
DYOR
(20min delay)