Ann: Tennant Creek Drilling Update, page-11

that's why companies in this stage of the life cycle rarely indulge in buybacks. The only justification can be to stem free fall of Share price. There wasn't a free fall of SP and on the contrary the SP went down a pip when the buyback started. Prior to that it was stable around 1c. No one was selling, and now that the buyback has started suddenly large volumes are getting dumped. We can also ask why are people dumping in the middle of a buyback? Especially if the buyback is being done to support the price? Should they be more patient and hold on little longer to see if the mgmt buys back at higher price. Unless the sellers know the mgmt has no intent of buying at price above 0.009.

So I am led wonder what purpose is the buyback serving and who is selling into this buyback? hmmmm