Current Mgmg fake promises Versus actually delivered..., page-73

Dalts, myself and Denial were having this exact back & forth on buybacks vs dividends around this time last year - where Denial basically said a buyback cannot/will not occur to any material extent based on how tightly held the company is and the rules surrounding how the company can execute a buyback - price, volume and so on

The company is too tightly held to realistically clear something meaningful like 50,000,000 shares (20%) from the registry, there is nowhere even remotely close to that many shares available for purchase and when you consider how much price action we get on such little volume as it is - just trying to buy back even significantly smaller amounts without artificially spiking the share price to such a level that it's then out of the average price range the company is allowed to buy within in the first place becomes an essentially impossible task

While its possible in smaller quantities as a means of putting a floor under the shareprice, i dont think it'd eventuate to much beyond that, I do agree with Denial there - and then there's the question of how much real value it provides to shareholders at that point (meaning on insignificant volume). Buybacks of 50% etc, even 20% I just don't see how it's a tangible possibility when you factor in price, volume and then time. Time being something not often discussed. Even 20% would take several years or more to accumulate just at current prices, let alone once the share price starts to reflect the actual intrinsic value of the company

So I understand why Denial continually said it just can't/won't happen to any material extent, as we arent Apple or CBA.

I've said it before though i'm completely biased towards wanting healthy dividends, i really dont care about buybacks given the number of shares on issue and i recall Dalts saying he was of the exact opposite opinion and was completely biased towards buybacks for personal reasons etc, which is absolutely fine, everyone has their reasons for what they want. I do agree with his other points regarding the company in general.

Personally speaking, I and to be fair many others have and continue to hold based on the hopes of solid dividends as kingsgate has historically been a significant dividend paying company. However its now getting to a point in which opportunity cost after holding patiently for so many years has become incredibly high (again, speaking on a purely personal basis) to where if the company didn't pay meaningful dividends moving forward or didn't have intentions of doing so then I'd need to look at selling a rather healthy holding when I'd really prefer not too and would rather continue to hold for the longer term.

Everyone's gotten a piece of this company for years now, bonuses, salary increases, ludicrous royalty rates, Chatree daily fun festival carnival as Lovegod would say etc - and i'm all for helping the locals and bringing prosperity to the local communities but shareholders have been starved to death here.

Once again no offence Dalts lol happy to agree to disagree and I will say I do understand your point of view and agree with your other points

So yeah i agree with your sentiment Fitzroy and appreciate you saying so.