Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Nowt to do with London Stock Exchange, and all to do with management hubris. Remember 80% of acquisitions destroy value for the acquirer, so the reaction of the market this morning suggests this is not one of the exceptions to this rule.
Should Armageddon occur, it will expose the idiocy of buying back their own share in quantity. BDEV express a clear need for increased housebuilding, so they should have got on with it rather than indulge in financial jiggery pokery.
Based on info in the public domain for the 6 months, average cash balances are in the $20m to $30M range, available short term interest rates in the 3%/4% range, implying interest income of at least $300k rather than the published $37k.