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Share buy backs are the classic pump tactic on the ASX,...

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    Share buy backs are the classic pump tactic on the ASX, generally all you need to do is announce one and the share price will fly with confidence from the market.
    Once everyone forgets you announced a buy back you can take your bonus from the increase in SP and run. Didn't play out this time and it becomes pretty transparent when the sp drops 10, then 30, then 50% and you don't buy a single share.
 
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