One of the characteristics behind Capricorn Metals and Evolution that have made them stars is they keep their equity tight and don't issue a lot. US tech companies especially have supercharged their EPS and thus SP's by buying back stock. I wasn't to see Aust mines do the same (BHP & RIO do). Not least because it provides powerful diversification other miners who don't and are always coming with their hands out for capital.
BTW, it was the Legendary Robert Maple-Brown who told me some of the points in the post above about buy-backs. (I think people wanted to kick my ar*e for monopolising his time with questions). Still, there are a few good times to make a fool of yourself and that was one.
All IMVHO.
MLX Price at posting:
41.0¢ Sentiment: Buy Disclosure: Held
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