under performing, page-136

As developers like DCN and RSG transition their operations their share prices will outperform and will become valued on increasing cash flow IMO. At the same time their reserves will be rerated as they prove themselves. At the moment RSG’s reserves are barely valued, the company’s future cash flows aren’t being taken into account much. Still trading not much above book value, unlike some of its peers which have been traded into bubble territory by the US bankster bubble builder’s. Esh