At 15c, I believe it would be negligent of management not to be seriously contemplating an on-market buy-back. I know they have everything set up to do this quickly and hopefully they are currently seeking board approval.
The efforts of management to market the company story have failed and they need to acknowledge this. It is fair enough to keep cash for acquisitions and future production, but it is inefficient to keep it sitting idle for this long.
A $5m buy-back will not hurt our finances and will improve cash-backing per share. It is the text book scenario for a buy-back. We should take the opportunity whilst it is there.
EXS Price at posting:
15.0¢ Sentiment: Buy Disclosure: Held
