Is a buy back a silly idea?

We are witnessing a progressive pull back in most of the best performing gold shares, driven by some redemptions in gold funds, a subdued performance in the gold price of late, general profit taking and some commodity sector rotation back into sectors like the oils.
The gold leaders all seem to have large cash balances in common and have solid revenue outlooks at current $A gold prices, so why shouldn’t they start buy back programs into further weakness (instead of acquisitions) to partly insulate these corrections and tighten the register?
RMS has an awful lot of shareholders sitting on big profits over the last 12 months, so the Ruffer move to take profits is unlikely to be an isolated event.

RMS has their rolling hedging strategy which I really like during these more nervous times, and this now feels like the time those protected profits can be best reinvested into a buyback rather than adding another $40 million to the bank account imho.

Smart balance sheet and capital management will be rewarded in the medium term.

SLR must be looking at same types of decisions.