Guy, do you seriously expect the Board to commit to a dividend...

Guy, do you seriously expect the Board to commit to a dividend policy years into the future? The precise trajectory of the growth plan is not nailed down, the funding mix to build it is totally unknown, the gold price is unknown. It is simply ridiculous to pin your hopes on some sort of articulation of a dividend policy. Its almost hard to conceive of a company less likely, in this space, to be paying dividends in the next 5 years. And if you think the market would respond by some ill advised declaration by the Board that in 2 years time we will pay a dividend then I believe you are deluded. No one will take it seriously. Try giving a read of the balance sheet a go. SVG has $120m in accumulated losses. It will not be paying ff divs in the net 5 years, thats a virtual certainty.

RE: Buyback - speaking of balance sheets, if you actually read it you would see the Company is virtually broke. If it ever makes profits that will go to building a cash balance to fund the 1mtpa pipe dream. It is cum massive equity issuance to finance its growth you seriously expect the Board to buyback stock with the exploration and capex bills ahead of this Company. This company has never generated free cashflow. The only direction the sharecount is going is dramatically upwards.

Its just quite simply, beyond ludicrous to hope to be rescued by divs and buybacks. How can you honestly believe its remotely possible?? Don't you read the accounts??