Not sure if they finally used the full 1B, but they could say something like:

- We added another 600M (total 1B) in 2019 to re-purchase shares in order to have this leverage if required

- We prefer to remain cash due to the current covic-19 situation, but had to move on this great asset

- We are diluting the float 10%, but Schaft Creek will not affect our cash position and the returns will highly offset the dilution and benefit our shareholders.

- We intend to repurchase most of the shares with the sale of San Nicholas & Zafranal.

MoneyK