I don't understand the point you are trying to make. you state...

I don't understand the point you are trying to make. you state

.....It was to buy back steeply discounted equity that is not being arguably priced appropriately by the market.

Steeply discounted, under valued, the same concept.

And you have to have a benchmark to decide something is steeply discounted or undervalued.

As I recall DP specifically mentions the reserves valuation and financial performance as a background to the share buy back

Is your gripe the fact that I mentioned 5c a share, isn't that roughly the value per share of the reserves valuation?

If the reserves valuation had came out twice as high or twice as low it still gives management a tangible valuation point, a target if you will that they would choose to aspire to

To paraphrase a quote , I sometimes ask myself, ..........why mister Staymour why? why do you persist?

I honestly don't see your post as anything other than a pointless gripe, without any real merit, its main thrust about the fact that I stated intrinsic valuation...... yet surely any management worth its salt is going to attempt to make its share price attain at least this valuation..

I'm honestly bemused by your response )