placement facility, page-7

I thought the whole idea of the share buyback was a way to increase the shareprice seeing as they don't
want to sell stockpiled gold and pay a dividend presumably for tax purposes (or other reasons).
if they make a placement it is going to dilute existing shares and even if they buyback they will still
be near parity to now which I would have thought defeats the purpose of the buyback as well
as changing the structure of the shareholder base.
I thought in placements punters paid you, not you borrowing money then having to pay interest on it so how would this work for tax purposes.
do you use the placement money to buyback then borrow additional money with interest or borrowed money
to buyback and placement money to eventually retire debt?
maybe the structure of the shareholder base is the answer, maybe I'm wrong.