I don't like the idea of a share buyback. Their cash balance can act like a safety net to shield against any potential gold market volatility. I'd prefer they forget about all unnecessary large CAPEX spending and concentrate purely on mining economical ounces.
WGX need to string a couple of profitable quarters together before we see any meaningful sentiment change towards the company. The markets currently not buying into their new plan (once bittern twice shy).
It's a waiting game for now. The market needs to see evidence that they can execute this plan. Judging by their latest operational momentum, the market IMO is being overly harsh on it's valuation of WGX. A share buyback is not going to change sentiment.
What I would like to see is the board buying shares in WGX. If they have so much conviction in their plan then they can show the market by putting there money behind their rhetoric.
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