Excellent result today!!! 6 million profit and 2 cracks at share...

Excellent result today!!! 6 million profit and 2 cracks at share price multiples which cost 12 million.

Im happy to see MS keep hording the cash. He is 46 and has a longer term vision then then the posters that subscribe to buyback theory who are panicking about the shareprice. He wants the shares to go up more then all of us. Buybacks achieve very little with small caps. The IPM buyback is just a statement announcement to say there shares are cheap. IPM dividend unfranked as well. The SAE buyback has been a joke as well. The only buybacks that do well are the off market ones like BHP & WOW which offer franked dividends as part of the consideration. Cooper does have over 9 million in franking credits so I would prefer a franked dividend then a on market buyback if any payments.

Im in the auto club. I own 2 stocks and have 85% in COE.
Im probably in top 25 to 40 holders now in cooper.

BE HAPPY WE HAVE THE PROBLEM OF TOO MUCH CASH :)
Everyone should be delighted Cooper won't have to do another capital raising for years if ever and we are earning interest from the guys that paid 65 cents :). So many other small oilers will have to do capital raisings with their share price in tatters and a illiquid market.

I can wait for the price to go up on its own steam without a buyback. I have no loans or other financial commitments that would force me to sell. The only thing stopping cooper at these depressed prices is some vulture could take it over easily before it unlocks its value. Not too worried about that either. How many takeovers have happened in the last couple of months. Everyone is too scared to buy assets in this market when they ironically cheap. Takeovers only seem to happen when the market is booming and they pay too much.