Sure, I agree. Once we pay off the loan and have cash to deploy we should not be at $1.5 BUT we may well be. As it stands we should not be at $1.45 or $1.2 as of last week.
That being said. If we are not able to buy back many shares on the way to $3 they why do you even care?
I personally think we could get 20 million plus shares to $3. There are loads that will off load making anywhere from 100% to 1000% profit.
Every share we buy back at half it's value or more than half its value is MEANINGFUL. If you cant see that, then I do not know how to make it more simple.
I am encouraging a dividend after we are above $3
Remember we specifically voted for and passed a greater than 10% buy back in one calendar year. So over 25,7 million shares.
Ross, has said, "he thinks there are too many shares on issue"
Finally. If we had got a USD $50m Thai bank loan and zero capital raise, we would still be at 221m shares be paying down that loan instead of giving a dividend. So the buy back is EXACTLY the same as a loan repayment except one only knows the price after all the shares are bought back and an average is worked out.
Conversations over.
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Last
$1.54 |
Change
-0.005(0.32%) |
Mkt cap ! $396.9M |
Open | High | Low | Value | Volume |
$1.55 | $1.58 | $1.53 | $1.024M | 661.5K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 21000 | $1.53 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.55 | 6269 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 21000 | 1.530 |
1 | 3762 | 1.525 |
4 | 26762 | 1.520 |
1 | 7000 | 1.505 |
5 | 53850 | 1.500 |
Price($) | Vol. | No. |
---|---|---|
1.545 | 6269 | 1 |
1.550 | 17400 | 4 |
1.555 | 3762 | 1 |
1.560 | 3762 | 1 |
1.575 | 24500 | 2 |
Last trade - 16.10pm 28/10/2024 (20 minute delay) ? |
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KCN (ASX) Chart |