Dear LastZaz,

Welcome first time poster!

Good to see you post here and thank you for your question.

I believe Peter has answered this before, but I will try to summarize it as follows.

Management is constantly looking at ways to increase shareholder value, and the NCIB is just one tool, of many, in its tool box.  

A challenge facing any management is deciding which strategy to pursue and when. Of course, the goal is to pursue the strategy which ultimately does the best job at increasing shareholder value. Sometimes, it takes 20/20 hindsight to appreciate the decisions made.

Hope that helps.

Rodayna Kafal on behalf of Peter.