So in January they did a placement of 20mil shares at ~HK$2 as they needed the money to pay for bonding - they lost a small amount of money in the six months to 30Jun and will continue to do so until Faboliden is in production but suddenly they have funds to buyback up to ~16mil shares probably up to ~HK$2.
And as always we don't really know what's behind their thinking - do we assume that the placement shares are now in friendly hands and if there's a decrease in the number of shares on issue coming then that means that the two disclosed substantial shareholders will automatically have increased percentage shareholdings so easier for a small group to control up to 75% of issued shares.
Some people would think this is clever tactics but I'm not one of them.
DRA Price at posting:
$3.65 Sentiment: Hold Disclosure: Held
