start a buy back already, page-25

LMR is a bad example. The only reason the price stayed up was a takeover offer!
How does the company increase its value with increased cash backing per share? It already trades at lower than cash backing! Check TLM, they torched $30m of their $40m warchest but now have the Monty prospect with SFR which has added substantial value. Spend the money exploring.....

There are obviously not plenty of worthwhile projects going for cents in the $ as you would see them changing hands. Certainly not in the $2-5m range. I have been a shareholder for some time so I can assure you I have researched the management.
You can assure me all you like but I don't believe what you say. And you will have to count my votes against any changes.