marcus padley finds cdu buyback odd

http://www.abc.net.au/lateline/business/items/201105/s3232193.htm

TICKY FULLERTON: Now copper stock Cudeco started the market with some results, what's been the response from investors?

MARCUS PADLEY: Stocks up 11 per cent or something. This is one of the most highly traded stocks in the market. It is a traders stock, it's quite a liquid, tends to move quite a lot. And it's a Queensland copper explorer and here they are with some decent drilling results on their major project. Just a bit odd for a company that doesn't make any money yet although they have got cash, they've got quite a lot of cash, and they've got a joint venture partner who's bought a bunch of stock, but for a company that doesn't have any money has got a project to finance in future they've declared a share buyback which seems a bit odd to me. You would have thought they'd keep the money for their project development. It seems they are quite share price focused.