2016/17 Full Year Results, page-14

They are just holding cash for the EoFY. At last count they were on target to meet their budget, as advised at half year results. At these prices I'd say great opportunity to accumulate, fundamentals are the same they were 3 months ago. In my humble view they will start buying again in July, especially at these prices.

Though the bigger question is where can they take the share price in the medium term, say over the next 2 to 3 years. I don't think its a particularly well run business though they are in an industry that has seen remarkable consolidation. They will get picked up by one of their competitors and $3 is probably about the right price.