The lower the current stock price is, the more a buy-back makes sense. HGO just announced a 273% increase in statutory profit, and the share price is back to where it was pre-announcement. With the SP at these levels, buyback is the best leverage towards creating shareholder value. In the worst case scenario of a copper price route, the company has a $100M+ hedge book it can close out to raise cash.
copper price, page-33
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Last
5.3¢ |
Change
-0.001(1.85%) |
Mkt cap ! $108.9M | |||
| Open | High | Low | Value | Volume |
| 5.4¢ | 5.5¢ | 5.3¢ | $66.58K | 1.247M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 295497 | 5.3¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 5.4¢ | 111754 | 2 |
View Market Depth
| Last trade - 14.00pm 03/12/2024 (20 minute delay) ? |
| HGO (ASX) Chart |
