Personally I think an on market share buy-back would be good....

Personally I think an on market share buy-back would be good. Even if they just announce 5 %. They will of course need to make an announcement to the market before they do such a thing, however they would not need shareholder approval. A 5% buy back would cost about 8.6 million and they would be under no obligation to buy all 5%. It would be a good way to return some value by increasing shareholder equity and would also serve to stabilise the share price going forward.
I reckon another half cent interim dividend would also go down a treat and would cost another 5.8 million + final dividend of 1 cent is another 11.6 million. Total yearly outlay would be around 26 million. ( So very reasonable ). Gives us punters a 10% return @ 15 cents + increased equity through the buy-back program.
To add a little bit of excitement to the mix - they might possibly have found equity partner/s to take a share of Southdown. Any hint that Albany is back on - then who knows what could happen to the share price.