I don't think a dividend, unless there are tax benefits to it,...

I don't think a dividend, unless there are tax benefits to it, enhancers share value. Much of the market cap of the share is based on its cash backing. Declare a $0.05 dividend and the share price drops by that amount. As GOR has no earnings that will not recover in the SP as it would for a company with earnings.
On market share buybacks on the other hand reenforce a floor limit on the share price and condense shares on issue which should preserve the price for remaining holders.
GOR is successful as an explorer and should invest as opportunities arise. I see random moves in the SP as drilling results come in. Becoming a miner is interesting play and the long term goal of becoming a dividend payer based on earnings is where I see long term share price growth.