Since the company doesn't need to raise cash, doesn't have a particularly large number of shares on issue and there's very little chance of a takeover happening, I don't see the need for a share buyback. It might benefit some of the directors to pump up the share price temporarily, we would need to check their incentive packages.
Furthermore, there's a lot that can go wrong with pearl farming, as the Japanese farmers have sadly discovered. So it makes sense to hold a little cash against a temporary set back. I don't think $16 million or so is an overly large sum for such a contingency.
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Last
15.0¢ |
Change
0.010(7.14%) |
Mkt cap ! $65.85M | |||
| Open | High | Low | Value | Volume |
| 14.0¢ | 15.0¢ | 14.0¢ | $45.60K | 315.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 11 | 928640 | 14.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 15.0¢ | 103081 | 4 |
View Market Depth
| Last trade - 13.14pm 16/06/2025 (20 minute delay) ? |
| ATP (ASX) Chart |