from looking at historical trades, it seems that only the company itself has been buying the major buyer of shares shares in REY.
It completed a share placement of 50 million shares at 8.0cents and since the 27th Jan2015. On the 9th February it started buying back shares on the market and has bought nearly a million shares since then.
In the December quarterly the company stated that the cash balance was $933,000.
It also stated that the estimated expenditures for the March 2015 quarter were to be as follows:
Exploration and Evaluation $800,000
Development $100,000
Administration $400,000
Total $1,300,000
Over the last three months Rey has spent about $110,000 on buying its own shares.
For a company that had such a small amount of money, this looks extraordinarily strange. The company isn't in production, has no revenue, isn't paying dividends and has expenditure only.
Am I confused or does the buyback look like it was used to support a share price?
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Last
3.6¢ |
Change
0.000(0.00%) |
Mkt cap ! $7.616M |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 500499 | 0.1¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
3.5¢ | 40 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 500499 | 0.001 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
---|---|---|
0.035 | 40 | 1 |
0.036 | 280 | 1 |
0.039 | 1 | 1 |
0.040 | 4000 | 1 |
0.057 | 19920 | 2 |
Last trade - 10.06am 17/10/2024 (20 minute delay) ? |
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