Looking at today's buyback notice, they have bought in total thus far, 200K @ 27.5 cents. Based on the market depth, it would not surprise me if they have other 200k orders to be filled at 27 and 26.5 cents respectively.
Suspect that the buyback is there to put a floor under the share price, not to send it higher. That the share price has risen to 29.5 cents on the buyback indicates that maybe it has achieved its purpose and now the price will settle in the mid to high 20's.
The only thing that will send this higher is;
1) sale of Marampa 2) settlement/receipt of $80M from MCC 3) explaoration success for CXU for which CFE holds 38M shares 4) left field event e.g. sale of AKI Royalty
CFE Price at posting:
27.0¢ Sentiment: None Disclosure: Held
