HBM depressed priceI wonder if someone is depressing the price?! Be that as it may, the SP is certainly cheaper for management to buy back its shares for cancellation. Based on its normal course issuer bid announcement, they had provided for budget to buy back shares at approximately $21 per share for a total of some 9 million shares within 2008. Bottom line, if I am already a holder of HBM shares, I will not sell my shares but hold on as the buyback (which likely is happening now to take advantage of the low selling price) will effectively add value to the remaining shares on the Balance Sheet. Even with the buyback of shares the treasury of HBM will still have some $500 million from its previous year's war-chest, not counting 2008's cash flow.