It is head-shaking to ponder not putting the 70 millionearmarked for their exploration program into buying back 1/3 of their shares. Spend the money next year instead. That would increase NPV per share by 50%, Same 50% cashflow per share etc. In short it would creat shareholder value by 50% and make any exploration success 50% more valuable. Think of that. Shareprice 12 vs 8 or rushing out to spend big time in exploration when they have plenty of reserves.