sloanrunner, not sure exactly what those rules mean but hopefully it means CFE can have an exception whereby they can purchase more shares. If so, CFE should definitely be pursuing this.
Timely1,
I'm not saying for CFE to spend all its money. However, another buyback for 10% @ 70c is going to cost less than $40M.
I would much prefer this than the dividend.
flyingdoc,
Following on from last post, I do not believe money was that tight but it would have been much more advantageous to buyback than return so much cash to shareholders, although I guess shareholders could have purchased more shares with the money, but they would lose out on tax.
If this ever hits $1.20, remember buying in at 30c would have essentially quadrupled any money invested. That's how it works. So if you bought back $50M at 30c, if the shareprice ever hits $1.20 that $50M is then worth $200M.
This is why I advocate as much buying back below true value as possible or allowable.
Cheers.
CFE Price at posting:
62.0¢ Sentiment: None Disclosure: Held
