Because the directors do not understand a free market.
As I wrote after the announcement of a buyback.
A 4 for 1 consolidation with a 4 cent dividend would cost less and be a responsible distribution of earnings to all shareholders. A further gold price drop should make the directors stop this buyback.
yes I sold my holdings and am observing the markets as I believe we have a 4th wave and no real low yet.
UML Price at posting:
14.0¢ Sentiment: None Disclosure: Not Held