I am not proposing conventional buy-back (just read my posts)...

I am not proposing conventional buy-back (just read my posts) where the company buys share and cancels them which is burning money to only achieve short term gain in the SP.

I am proposing to make small buy-back and place the shares in special vehicle on hold. Once Tomie approval is given and Kaiser MRE is out ALK SP should be up and now ALK can sell those shares on the open market and make profit.
I am only proposing ALK to invest around $15m out of the $100m they have.

When you run large project like the Tomie expansion you pay in stages for it. You don't pay 100% up front. So those $100m will not be spent in 2 months once Tomie expansion is granted. It gives ALK time to do this buy-back and make money that can be spent on the Tomie expansion or exploration.