Surely FKP has not done anything to convince the market that their situation is improving, there are many simple ways to achieve that but FKP is somehow encouraging the shorters... the last ASX response is just something like: "well it is unfortunate the SP is down, but you know we are small and ...eh, there is nothing we can do about it!".
The buy back is not a bad idea, however since FKP has just CR on $1.40, there is little point to use the free cash (if FKP ever has, I doubt!)to buy back share rather than paying down the debt, the shareholders will kick them on the a.s!
Until some solid progress to be announced such as TA offer,De-merger, Asset sale or partnership, the SP unlikely move sharply to the north.
FKP Price at posting:
$1.00 Sentiment: Hold Disclosure: Held
