I am actually quite confident that the gap will close. The...

I am actually quite confident that the gap will close. The Directors are impressing me with their smartness in buying $25m worth of shares, then signalling a buyback, and one can presume "Option 3' if those don't work. The net result is that they will have bought $25m shares at 15% or so below NAV, which ay increase anyway due to the buyback (again buying 15% below NAV). When the gap closes that will be a very easy $4m in their pockets. Probably chicken feed to them but as the saying goes, look after the pennies and the pounds will look after themselves. I think it's been said before but this is a clear low-risk buy until the NAV hits $2.