ocean equity report 16 jan 12, page-2

Hello RiverDry
If the strategy is as you suggest, would the company have needed to make the appointments that they have recently?

I have to say that I am confused by the current situation. If the company is going to mine then they will need a significant amount of capital to do that and it therefore seems incongruous to be spending money on a buy back.

I wonder if there may be a joint venture coming with FMG where they pick up the capital costs of development? Something certainly seems to be happening judging by the appreciation in the share price. I don't believe that it is solely due to the buy back although on some days that has certainly comprised a significant proportion of the days trading.