Share buybacks…what a waste !16 May 2023 10:24
See the co is continuing with the unproven use of expending cash into share buy backs. For Low cap value listed cos like this …….it is an utter waste of time and cash, the market could not give too hoots ,as has been proven with all the previous share purchases having no positive impact at all…indeed from a market perception it seems to be negative….this is not Rio Tinto!!! definition of madness….keep repeating a failing policy!!!! Shows a fundamental lack of understanding of what drive the SP’s of co’s like this. The BOD need to have a vision for a more creative way to generate value, invest into new opportunities if they have cash to throw around. The BOD need to show a bit more vision than this and maybe that’s why although there is a fantastic financial position, the SP is stuck in a rut and seemingly going nowhere. I expect the usual defenders of the board ‘doing a great job’ to rear their heads of how unreasonable this is to say such a thing, but proof of the pudding is in the SP and at the moment with such brilliant financials….why is this not so much higher??? Change of approach and vision required….