Because they have no money to buy back stock. IF they were cash positive you would know, RP talking through a dog cannot be considered FACT. Here is an excellent article about the gold space right now.
Even the winners are losing share price, betting on a loser is exactly that.
First rule: Cash is king right now. MTO cash = not repaying debit as per schedule
Second rule: Buy management. Look for serially successful entrepreneurs. = HA HA HA
Third rule: Buy the business model. = What model it keeps changing?
Fourth rule: You want high-quality deposits in safe places. = Maybe? Madam is greedy and independant 43-101 have downgraded MTO projections. They are not getting projected grade now even though they just opened rich new stopes. Is it because they are not getting grade or is it because the grade is not there? Historically it has been in the 5g/t range.
My general rule of thumb now is to keep your powder dry. Keep half of the money you want to invest in junior mining in cash for now. Look for opportunities and nibble. Maybe take a small position in a few companies with the idea that, when the uptrend comes, you can take a bigger position.
Ok , brace yourself for the educated and considered retort. I don't support buying anything at this time and am actively liquidating my positions, even in the good stock like Visa. A pullback is coming and as Shake and Bake once said "It is better to be three hours early than one minute too late"