Redfaces - not taking any bets at the moment. Thank you. Stop using margin last November and best move yet I think. Empirical evidence shows that only the brave use margin in volatile markets...
Can't see any other move at the moment than a capital initiative. Repayment of debt can be gradual with the dividend savings. If they took out 10% of capital = 20m shares; it would cost about $40m but save $8m in dividends payments. Opportunity cost after tax for interest payment is only $2m. In my mind this is a no brainer, but always open that a better brain may prevail...
We'll see what the day brings.
MMG Price at posting:
$1.38 Sentiment: Buy Disclosure: Held
