I would be very surprised if management pay a dividend and even more surprised if they do a buyback. If either of those things are announced I am sure the share price will react positively.
That said, we can always try. I have sent management a very friendly email noting my shareholding of 5m shares, congratulating them on their recent performance and suggesting that even a small buyback of $50m would create enormous shareholder value and show that management are committed to seeing the share price reflect its true value.
I don't expect such an email changes things dramatically but hopefully it nudges things in the right direction. I recall holding a larger position in GRR in 2021 and myself and many shareholders contacted management for a larger dividend and or special dividend. Surprisingly management responded and after paying a big special dividend the share price doubled within the next few months (https://www.**promotion blocked**.au/2021/12/10/grange-resources-asxgrr-share-price-soars-24-on-supersized-special-dividend/)
I would encourage others to write to management politely ([email protected]) and encourage them to pay a dividend and/or conduct a buyback and provide an update on their long term plans for Koolan Island and other projects.
MGX Price at posting:
39.5¢ Sentiment: Buy Disclosure: Held
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