Charlie123,I am thinking that you are on the right track. I...

Charlie123,

I am thinking that you are on the right track. I thought it was strange that the buy back wasn't initiated when the share price was around $3.00.
It has gone up 32% in about 5 weeks.
I agree with your train of thought and here is my 2 bobs worth.
I think that the cornerstone investors asked wayne if anymore shares were forthcoming from the buyback. he probably said not at the moment, you need to buy on market. I think that this is a strategic ploy on waynes behalf, get the cornerstone investors to push the share price up to a reasonable price($4.00 seems reasonable) and then wayne implements the buy back, pushes the share price upto around the $5.00 - $6.00 mark( and remember the cornerstone investors would still be buying on the day along with buyback) and then wayne could do a placement up to and around the $5- $5.50 mark.
If you look at sell side, try buying around 200,000 shares and share price will jump significantly and also the blockers will remove theirs shares as the share price is chased up.
This thing can go anywhere.



Again my opinion only.




cheers


Flinders