If they manage to buy back one hundred million shares at .9...

If they manage to buy back one hundred million shares at .9 cents over the next few months and they do happen to find some worthwhile deposit that pushes the share price up to 6 or more cents, they will then be able to do a CR and issue new shares at a much higher price. I think that a find that pushes the price up 6 fold might need more capital to prove up.
One positive I see is that they set the incentive shares at 3 cents for employees and 6 cents for directors. That is a substantial gain over the current price and the directors must see this as an achievable price and have some insight that a sizable deposit exists out there just waiting to be found.
If the price doesn't exceed 6 cents, the directors get nothing. If it does go over the 6 cents, the directors will do very nicely but so will you and I. They have the incentive to make this work.
Likewise, I don't know who would be selling.