Couple of big assumptions....
History would suggest that buying back stock in small caps does nothing for the share price. I doubt it would move to 10c. buying back at a discount is not money for jam, it is spending money for nothing.
If they pitched the buyback price at even 7c they would get knocked over in the rush and it will revert to the current price. If chartists look at the share price it wont show a buyback and normal trading at the prior price will resume.
Read their quarterly. They are not just sitting on a hoard. They have looked at plenty of projects (as have every other resources company with any money) but most projects around $4-5m are either gone or not worth the money. Not easy to find. Assuming a buyback (which does nothing) and then looking for another project is exactly what they are doing!
Exploration companies raise money from shareholders to explore and who understand the risks. They should be doing more! I certainly would not support changing the board....waste of time and money.
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