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
5.5¢ |
Change
-0.001(1.79%) |
Mkt cap ! $11.63M |
Open | High | Low | Value | Volume |
5.5¢ | 5.5¢ | 5.5¢ | $61 | 1.108K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 23365 | 5.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
5.6¢ | 2400 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 23365 | 0.055 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
---|---|---|
0.056 | 2400 | 1 |
0.057 | 8920 | 1 |
0.079 | 957 | 1 |
0.080 | 35950 | 1 |
0.180 | 2721 | 2 |
Last trade - 11.00am 30/07/2024 (20 minute delay) ? |
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