Ann: September 2016 Quarterly Trading Update-XPD.AX, page-11

Looks like there's not a lot preventing this from going further south. Everything we've been told does add up (just a question whether you believe it) and I think there's good communication from the company, but all things considered I'm going to downsize my holdings. If the buyback doesn't eventuate which is looking more and more likely I can't see the share price recovering any time soon.

Hopefully the new shareholders in China are pressuring the company too, because from my first conversation with Andrew I was told that their disappointment with the stock price was a factor in the decision to initiate a buyback.

Would be happy to be wrong here but my feeling is short term this could get ugly.