RE:Share Buybacks...Normally I can't fault your logic but in this case, why buy FAILED operations when yours is the best? Yes, if decent assets do come through then Valens should take a look at those...like they just did with Pommies and Tarukino! So again, why not buy back a few shares at these ridiculous prices then use those shares to acquire the assets you mentioned but now at a much CHEAPER price if the share price goes up from where they bought it? So in essence, the share buyback represents a potential DISCOUNT for them when they do make acquisitions. Even a self fulfilling prophecy of sorts if it goes up in concert with the amount they buy (they buy 3% and the stock goes UP 3%).
if you don't like the share buyback everyone can do something about it...bid the price up!!! If it goes up they will not exercise their option to buy!