Hi Bitzer,
As much as I would like to agree with you have posted - I can't.
Your comment: "best thing that it can do with excess capital right now is to buyback its own shares."
Cudeco does not have excess capital as it still needs to build a plant to mine. Numbers touted are approx $200m. It would be excess capital if we were producing income from mining and all infrastructure was in place and then we would hope excess capital would be paid out as a dividend.
IMO the buyback is to protect the price from falling below $2 which a lot of short term traders would like to see happen. WM is protecting his company from faller lower and allowing a cheap takeover.
Appreciate your thoughts and opinions however and wish it was indeed excess capital.
Cheers,
Waltz
- Forums
- ASX - By Stock
- this guy is buying more shares back..
Hi Bitzer,As much as I would like to agree with you have posted...
-
- There are more pages in this discussion • 28 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)