Current Mgmg fake promises Versus actually delivered..., page-78

"That said, you can't run this company like your own tax return"

Read my posts again. Don't put this rubbish in my mouth. You are lying to yourself and gaslighting me. I wont stand for it.

Let me make this crystal clear. The dividend vs buy back discussion has nothing to do with what I want, or what you want or what Racer_X want's or X wants. It has to s=do with competence in the board room.

I'll say this load and proud - Giving a dividend while the share price is less than 33% of it's value is unacceptable and is a dereliction of duty from the board. If management are looking at another project is it for sale at 33 cents or less in the dollar? Well Kingsgate is.



No disrespect Racer but all that is utter rubbish. The company could have bought shares on Friday for $1.38 and have chosen not to.
What you are saying is that if the company bought at $1.38 then suddenly the share price will rocket into orbit and they will never be able to buy shares. This is not true at all. I know people who want to lighten their load before $2. There are all the people from the Cap raise at $1.5 who want to exit.

The actual rule...

3.7 Under the ASX price ceiling in ASXLR 7.33, the buy-back price must not be more than 5% above the average of the market price for shares/interests, where the average is calculated over the last 5 days on which sales in the shares/interests were recorded before the day on which the purchase was made. The primary purpose of the ASX price ceiling is to prevent entities from using the buy-back as a means of artificially increasing or manipulating the market price.

What you see, is that as the price starts to rise, the price at which the company can buy rises. It is a market, as the share price goes up, individuals make decisions on what they want to do. Some will sell.

The arguments from you and Fitzroy do not add up. If you say the company won't get any shares because the price will rise = great news as the price will be $4 for a 1 Billion market cap and you get your dividend.

I am stating that the above is bullshit. We will get a HUGE amount of shares on the way to a 1 Billion market cap. Time will prove me correct.



100,000 * AUD $1,500 = 150m and 0.56c or 0.75c per share.

There is a meaningful difference in dividend if we buy back shares on the way to fair value.
If we do not get any share on the way to 1 Billion then that is fine too.

Imagine thinking no one will sell to the company at $3 or $4 when the share price is $1.38 and people are selling.