Ann: Continued Exploration Success at Officer Hill Gold Project, page-46

Crazy thought with your self inflicted wound. 

The company might have underestimated investors' sentiment and played with buyback casually without knowing the consequences. First mistake was that the company should not announce a buyback using the money from CR. Second, the buyback should be only announced if the company has free cash flows. In this case, the company does not have  the positive cash flows. The question is why the buyback was announced while the company is still raising the capital for exploration ? For what? Third, when the buyback is announced, investors or traders closely monitored the company's action. Fourth, the company stopped the buyback without any reason,  Like or dislike, it sends a signal to the market that the company may need money badly. Gain or loss is in your own hands.