Although I understand the positive mathematics (and its usually hard to argue against mathematics) of a share buy back at lets say 1 million shares at 1.25 (considering the flow throughs last November at 2.40 something). I don't completely disagree with managements take on the buy back option.

Its a short term fix and presently they have got the dollars in hand to ride out short term market volitility while being able to invest in a PEA, drilling, updated metallurgy, and feasability or furthering development of another property. They may also need those dollars if they hit "honey holes" to the north or south of Borden in the present drill zone..

I hate to sound like a broken record but they could gain that 25% plus in SP through good marketing and promotion of the company and finding new investors. But that again means they must being pro active