With all due respect guys this is not good news.

Exploration companies explore to do this they need cash, raising money in this enviroment is next to impossible as Ontex has recently found out.

Companies that are flush with cash with good cash flow can make a case for buying back their shares having said that I doubt even these companies would persue this strategy in these times. Junior exploration companies with little or no cash and little prospect to raise cash should not.

Cash is king right now and everything possible should be done to conserve the cash on hand. Even thinking about buying back shares at this time is ridiculous.