Yes, but a lot of people still have not done their reading, due to TVN's late payment, the terms of the deal were re-negotiated so that KRR is guaranteed $10M regardless of what their share price will be in the future. Obviously, we are all cheering on the TVN share price to re-rate and rise substantially to get north of $10M but we cannot get any less than $10M. These are binding terms and were well described in the last payment announcement. Plus we still have approx. $4M cash due from them later this year.
Obviously KRR is physically valued well north of the current market cap, especially if you take into account HPA & Tennant Creek asset value, but it seems management are still trying to load up this buy back as low as possible while tax season remains for the next 2-3 weeks. Post tax sell season they will likely have to raise the purchases with whatever buyback ammunition they have left.
Anyway, 3 weeks left of loading up at the lows! Cannot complain too much, whatever tactics management are undertaking, we also have the opportunity to capitalise by following their lead.
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Mkt cap ! $16.81M |
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16 | 2489514 | 0.010 |
15 | 5187517 | 0.009 |
7 | 27098429 | 0.008 |
5 | 5799516 | 0.007 |
Price($) | Vol. | No. |
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0.013 | 1611003 | 8 |
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