^ Agreed, we're now in a situation where the tin price is...

^ Agreed, we're now in a situation where the tin price is sitting around $31k-$34k, we're miles below even the 50 day VWAP (5 day VWAP being the required minimum price for a bb to operate) and heading for the 200 day VWAP (!), price is 39.5c right now. If the bb isn't running because of some static ceiling at 35c or 38c or whatever, that's pretty ridiculous, surely at least *some* concessions must be made to reality when setting your ceiling price. E.g. instead of a hard ceiling at 38c make it 38c + 1c per $Xk spot above $XXk, there is still the VWAP limitation preventing the buyback from activating in real euphoria/price spikes.

Obviously it would be wonderful to generate heaps of cash with tin at $35k, then buy back half the float for peanuts while tin is at $25k (with diamond hands from me while everybody else sells to the buyback), then see another surge to $35k tin again, but that just doesn't strike me as realistic scenario, that's more of a speculator's goal, we are just trying to return some capital.

Okay, we have a plan for the downside where tin drops, but in the case where tin outperforms, what exactly is the strategy? It is a nice problem to have, yes, but in that situation we are still stuck accumulating capital faster than ever before, and still allocating zero of it. I don't think anybody asking for confidence in return of capital was asking for it in the case where we grind along at breakeven for a year, so instituting a buyback that doesn't operate when we're making lots of money doesn't really address anybody's complaints

W/ that said, it's still not WORSE than nothing, and I guess it's better than the maximally undisciplined opposite case...