There is no reason to buy back stock. It will and HAS made no difference to the share price what so ever. I was disturbed by the buy back before the latest news and now its far from a good idea. Its potentially a grave misuse of funds. There is major uncertainty with the project regardless of people wrapping themselves in some JORC number and hoping for the best.
Not one person alive, can factually tell me this project will really work and just how much it can make yet? That includes the management.
CDU bought back millions of bucks worth of stock around $4-5 with the end result being a major loss of much needed funds. I think these guys want the average punter to think they have faith etc in the project, but it has scared off real investors in their droves. This smells like the same old, try and outsmart the market stuff. The recent baby face video is not a vote of confidence imo. Most longs see this as a positive [your meant to..] but its not a good use of funds and buy backs are usually done by companies that make money with access cash to their needs. This is an explorer that needs more cash. Makes zero sense. dyor.
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