Ann: Quarterly Activities Report, page-25

I think we've assumed that is the plan, but given the rate of cash build and the estimated timeline for Rentails there's a strong case for doing a buyback and still having enough cash for Rentails... besides, a buyback would help the SP meaning they could do a CR at a higher price later if there was a shortfall in funding for Rentails.

I didn't invest in MLX so they could hoard the cash in a term deposit. On the bright side they are getting into the territory where the EV is so low they will be popping up on the radar of activist investors. If they don't start communicating their intentions better they could find someone forcing their hand.