Not many companies (especially in lithium space) has the...

Not many companies (especially in lithium space) has the capacity to do a share buy back scheme.
GXY is in very privy and fortunate position to do one if the board choose to.
If it is done smartly, in term of pace, on / off strategy and qty per week strategically spread over 6 to 12 months, it will achieve the desired result by not spending all the allocated cash, thereby improving shareholders value by buying undervalued shares and reducing the company shares register.
A open ended - upto 5 or 10% is the best option as it can be stopped anytime if circumstances change.
GXY got the rifle and bullets but not prepared to use against the shorters, other like ORE and PLS can only dream of having the weapons.