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.********.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.
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Mkt cap ! $516.3M |
Open | High | Low | Value | Volume |
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Buyers (Bids)
No. | Vol. | Price($) |
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11 | 214897 | 42.5¢ |
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1 | 1065 | 0.435 |
3 | 14782 | 0.430 |
10 | 465237 | 0.425 |
10 | 442760 | 0.420 |
Price($) | Vol. | No. |
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0.415 | 122 | 1 |
0.420 | 809 | 1 |
0.425 | 20000 | 1 |
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