Hi Proof,I think you might be expending a bit too much energy on...

Hi Proof,

I think you might be expending a bit too much energy on this.

You're quite correct in saying that a less aggressive BB enables shares to be bought at a lower price. However, the amounts of money are really quite small in the scheme of things. The average buy price was .59. Perhaps that could have been lower at around say .53 or so. You can't buy 57m shares without inflating the price to some extent.

The difference amounts to about 3.4m. Not insignificant but largely irrelevant in the broader picture. About half a cent saving per share. If the average BB price was .47, a bit over a cent per share.

Against this backdrop, is the possibility that a sale was realised on Leichhardt, Marampa or Sappes (already has 2 offers), or realising the 80m from MCC. Offers from third parties are difficult to predict given buyers like to play their cards close to their chest.All of these will see an increase of a great dealmore than a cent or so. Just today, the SP ranged more than double that. Call it insurance.

It's a bit like debating sale price on Marampa of 503m vs 507m for example. I doubt there would be endless debate on whether CFE should have squeezed the extra bit.

Just my two cents worth.

Peter