South 32's Share Buy Back appears to be having a positive impact on SP. SP having risen by 13% since announced (compared to ASX 300 Metals and Mins -2% for same period).
South 32 argues the $500M capital management program meaningfully increases shareholder returns and follows the recent announcement of our interim dividend.
I would suggest NMT's 2nd proposed buy back was a further attempt to support the SP without having any intention to proceed.
South 32's Share Buy Back appears to be having a positive impact...
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