Even buying back just 5% of our shares would cost around $7.5 million. I don't believe that would be a prudent use of our money in the current context. I don't think any of us would be particularly ecstatic about a 5% bump in our share price, if it were simply a one off.

Share buy backs can be helpful to the share price of a company, but it would be extremely unusual for a junior explorer to do it. The flip side of buy backs is they signal the market that a company doesn't know how else to use the money to further the business (investments, acquisitions, etc).