NVA Valuations for 2019, page-13

The buyback has been used to help support the share price. It did that when the market was in the midst of a correction.

As @teddy_afro effectively noted in another thread, it’s progressing the projects and subsequent newsflow that will get the share price moving again, particularly with the upturn in gold sentiment.

It is essential that cash is used wisely. Wasting money on the odd 1 pip drop in the share price isn’t wise when markets are showing signs of turning positive. I’d prefer money spent on active exploration.

Furthermore - management have demonstrated their belief in the fundamentals with their own significant investments.