It is not in Wayne's nature to give money away. Purchasing all that mining equipment at GFC prices comes to mind. I could quote other examples.
For Wayne to have issued shares to M@G at $2 would have displeased him but, when one thinks back to the shorting that occured after the first JORC forcing the price down to below $2,it was imperative to bring on board an institutional investor.
My thoughts, at the time, were that had he not done so a share price near to $1 would have been on the cards. Gone would have been CDU'S 200 status and worse still raising capital would have been much more difficult and with great dilution.
The action Wayne took had to be done then. It proved successful with M@g increasing their initial holding at prices well above the $2 entry point. They saw merit in increased exposure.
Makes good sense to me to buy back shares at a lower price than they will be reissued to Oceanwide.---A win win situation.
CDU Price at posting:
$3.42 Sentiment: LT Buy Disclosure: Held
