RE:Share Buy BackThere's no doubt that III buy-backs at its current low share price earns significant value for III shareholders, even at a cost of 12% per anuum. But, even though Mt Polley and Red Chjris are providing strong positive cash flows, the buy-backs may result in liquidity problems for III since the expansion of those projects still requires significant capital investment. It may be risky for III to continue to rely on ME for future financing.