Hi Champee,
I think you are spot on regarding the fundamentals and might even be underestimating the market cap at $300M ($0.37 approx). The only real downside I can see in the short term are from forces outside of the boards' control (yes Donald, I'm looking at you). I can only assume that the reason they are so keen on the share buy-back now is because there is good news(acquisitions) in the pipeline that will push the SP up. It will take a while to churn through the 52 million shares they want. I will be keeping a keen eye on how quickly they are accumulating though, a big spike in volume could mean that good news is coming sooner rather than later. Something else I am mindful of is our possible inclusion back in to the ASX 300 at the end of the month, I'd say we are back on the radar of a lot of the fund managers that can only deal in the top 300 stocks.
I'm still holding some shares, just happy to park some cash on the sidelines for a while and watch.
2017 The new Capital, page-532
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Last
36.0¢ |
Change
-0.005(1.37%) |
Mkt cap ! $341.1M | |||
| Open | High | Low | Value | Volume |
| 36.5¢ | 37.0¢ | 36.0¢ | $216.0K | 589.4K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 210598 | 36.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 36.5¢ | 246609 | 32 |
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| Last trade - 14.11pm 02/12/2024 (20 minute delay) ? |
| CAJ (ASX) Chart |
