Oh fine - I will come out and ask the question. Was Foster the one who was behind the bot trading? Use of Occam's Razor leads me to think that they are just doing whatever it takes to generate churn of shares and take their cut along the way. Now they find themselves in a, no doubt an enviable, position of mangaing the buying AND selling of shares in a company for which they also issue buy recommendations! Hello?
Anyway the longer term play (IMHO) could be that this buyback is about both a floor in the price AND a stall while Anketell is being sorted AND a way to increase KS percentage in the company (while using company money - nice isn't it) with the added trade off that if a higher price offering can be made down the track to raise some more cash for ongoing costs, exploration etc, it still leave KS with a greater than 50pct holding.
Whatever the case I am still looking forward not backward and if this is what is needed to get the company to the next stage then so be it. I think it is a smart move and hope that we can continue to ride the coat tails to success.
Now, I wonder what incidence of cyclones there are at Anketell vrs Port Hedland.... will get back to you all on that one. Happy New Year (belated I know) to all.
IOH Price at posting:
$1.42 Sentiment: LT Buy Disclosure: Held
