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Paragon Diamonds – bizarre RNS: is it a buyback or a cashflow problem?

By Nigel Somerville, The Deputy Sheriff of AIM | Thursday 18 June 2015


Disclosure: I own shares in one or more of the stocks mentioned. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


This morning Paragon Diamonds (PRG) released a very odd RNS indeed. On the face of it, mooting a share buyback programme would send a strong signal to the market that the board either thinks the share price is too low, or that the company has more cash than the board knows what to do with. But for a company still in a capital intensive phase this is… unusual…. to say the least.


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