Share Buy Back, page-24

I'm not saying it has to be a 50% buyback or that it has to be done over 12 months. That was just a simple example I plucked to demonstrate the potential benefits of a buyback. Maybe it was a bit extreme of an example. Perhaps a more realistic example is they could buy back 20% of issued capital, then we would receive 25% higher dividends each year (than than without a buyback) for the remaining 7 or whatever years of the mine.

Like perdant mentioned in his view, I doubt many people would want to give up the cold, hard cash either.
That's the way most people are and it's understandable, there are lots of unknowns about the price of coal going forward and people want their rewards now rather than later.

But there are potentially big benefits of a buyback when shares are undervalued.