Yes, but a lot of people still have not done their reading, due...

Yes, but a lot of people still have not done their reading, due to TVN's late payment, the terms of the deal were re-negotiated so that KRR is guaranteed $10M regardless of what their share price will be in the future. Obviously, we are all cheering on the TVN share price to re-rate and rise substantially to get north of $10M but we cannot get any less than $10M. These are binding terms and were well described in the last payment announcement. Plus we still have approx. $4M cash due from them later this year.

Obviously KRR is physically valued well north of the current market cap, especially if you take into account HPA & Tennant Creek asset value, but it seems management are still trying to load up this buy back as low as possible while tax season remains for the next 2-3 weeks. Post tax sell season they will likely have to raise the purchases with whatever buyback ammunition they have left.

Anyway, 3 weeks left of loading up at the lows! Cannot complain too much, whatever tactics management are undertaking, we also have the opportunity to capitalise by following their lead.