I assume that was the aim of BB to keep it at $15 in this tutorial. If u accept this fact the figures are correct.
Like WHC was buying back shares when Coal prices ($425 US) were high and continued to buyback when coal prices was low to keep it share price high at what I presume BOD believed was it true value.
At one stage they were buying back shares near $10 when the spot prices was closer to $100 US.
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