Ann: Daily share buy-back notice - Appendix 3E, page-2

These guys announce a buyback of up to c. 17 million shares and 5 months later, when the stock has traded in about a 15% range above its price at announcement, they've bought a total of c. 65,000 shares. I suspect they're still getting to grips with how bad the resources sector could get over the next few years, also they'd be struggling for volume and they're probably struggling to retain anyone senior within the business for various reasons. In any event if management doesn't think the shares are worth buying why should anyone else?