While the SP recovery has been very good (I am one of those that...

While the SP recovery has been very good (I am one of those that came in at the bottom), there is still a general market perception that DRM is a basket case. Sentiment changes are almost never fast and many in the market are cautious and take the attitude once bitten, twice shy.

When you look at the EV/oz metric DRM is still cheap and there is no management premium built into the SP. LJ needs a few more quarters of good performance before the market really starts to trust his judgement.