The reason I say buy back shares is there at historically low prices and buying 10 percent of the float or the allowable would be in the IMG best interest at this time. The share prices are basically at a 50 percent discount since Oct and this would be the most advantageous at this time.  Buying another gold company is good as well but ARZ has not suffered any major drop in shareprice and would be considered not as advantageous in comparison.  I would step further and cut the dividend out to give another approx 100 million in spending money.  This may cause the share price to drop which would be good in the process to buy more shares.  Also, what difference does 3 percent dividend mean when this has dropped over 50 percent in the last few months.  Buy shares, is by far the best choice.