Member Info for redwineday

I would have thought that would require an RNS.

Not sure of the accounting treatment of the shares held in treasury however SP fall implies there isn't anyone sniffing around.

OTH I would have expected them to be accelerating the buyback at these prices. There can only be 2 reasons IMO.

The daily volume isn't enough for them to enter the market or they create a false market which has been the case in the past couple of days but not the case since they haven't bought back for the last 2 weeks when the volume has been higher or.. there is a corporate reason of which the market is unaware.

Of course there could be a third reason. Incompetence. Which based on the last fundraise and subsequent buy back at a lower price seems to be the obvious answer!!

Volume was low.

I’m wondering why the seem to have halted the buybacks.

This guy is like a monkey with a machine gun. Cash destroyer.

More money down the tubes.

Man down, next one move up ;-)

I'd rather someone was focused on reducing costs. Data analytics director for example.

News incoming? Budden collecting his jacket?

Mr Punch and Mrs Judy

Sain,

All patience has brought here has been a sinking SP.

The capital destruction under Budden has been catastrophic. Every point in the Canadians letter is correct. The fact that they wrote this after speaking to the new BOD says to me that they are underwhelmed by the response and Mr Rich's plan.

Rich has had time to shake the tree. Patience is not always a virtue. Shareholders need to see action now.

You might be right but if you are it’s sunk cost. Every day lost in reshaping this business has a value way more than what they are paying him.

I just can’t my head around why Rich hasn’t fired Budden. Value destruction over many years whilst at the same time pocketing an enormous salary.

He is down about 20k on his purchases since his appointment. At least I can take comfort that his timing isn't any better than mine

I doubt the decision is related to cost. Seems more likely related to finding the successor.

spot on mrsimmons

And apologies for crap typing

I’m sure it won’t do anything to the SP in the short term given all the s**t happening. But assuming we all are still here in a year from now on ne assuming Fixtins are still in business it should help. EPS, yield etc. Needs the underlying business to progress,

WOW!!!

Seemed to me by the way the question was answered, I agree it was not answered well, that they will look for cash to expand the field teams. He was repetitive on the time and need for boots on the ground to sell. I can see them making a placing. Really depends how much cash they will need.

https://www.diamonds.net/News/NewsItem.aspx?ArticleID=68396&ArticleTitle=Alrosa%2bProfit%2bSoars%2bas%2bFocus%2bTurns%2bto%2bSanctions

reduced supply = higher prices