$US1.9b is a lot of cash to have sitting around.
The pressure to buy something - Anything! - is enormous.
And while buying back at 2.80ish made sense, buying back at 3.90ish is a limp option.
The M&A team has twice-kissed every frog on the planet. No dice.
Graham Kerr's dilemma is a luxurious one and the envy of all. What will he do?
Ash
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Manganese prices surge by another 13%, page-23
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