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ASF Group Extends On Market Share Buyback As Shares Continue Climb

ASF Group (ASX: AFA) has extended its on-market share buyback program that can acquire up to 31.3 million shares over the next 12 months.

In the past 12 months, 712,014 ASF shares have been bought back at an average price of $0.1885 per share.

This comes as the company's shares continue their bull run, rising 147% since early January to an intra-day high of $0.235 yesterday.

The Australia/China investment group's shares have surged on small volume reflecting the tightness of the share register and the progress made in developing its underlying businesses.

ASF and its strategic partners were in February 2014 identified by the Queensland Government and Gold Coast City Council as the Preferred Proponent for the development of an integrated Marine Project at the Broadwater.

The Broadwater Marine Project is a joint initiative of the Queensland Government and Gold Coast City Council seeking investments to deliver an integrated tourism development in Queensland.

The Gold Coast Broadwater, also known as Southport Broadwater and Gold Coast Harbour, is a large shallow estuary of water reaching from the locality of Southport to the southern section of Moreton Bay.

This development is a game changer for ASF, leveraging its capacity to bring together Chinese and Australian funding and project expertise.

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.