Ann: CEO Presentation at 121 Mining Investment Conference, page-11

That’s why it’s important in a bear market to buy at low EV, with peer imbalance .

Don’t touch the higher capped where the downside is just as vulnerable as the micro imo.

It’s always a question of understanding the story and journey as to why there is a peer imbalance

What put PUR here in the first place to create the discount?

Recapped at 20c was it ? Before my time .
But then looking at charts and announcements can follow that at 10c a placement , then escrows released , fall to 5c , poor zinc results , and CR at 3.7c

The switch into vanadium behind the scenes was not going to be recognised until it stood out in front , attracts registry of vanadium buyers, must first dislodge of the failure of zinc attention .

It’s one big flush of the registry , but here we are.
And the price entry value to peers as we now progress vanadium milestones Jorc upgrades will enable those economic studies to market this to the right audience .

If you want early cash flows via DSO concentrate, in the best jurisdictions, with a management heavily invested , even in a bear market , it’s an easy rational to market 4m MC to peers in shittier countries .

Even in a bear market - the ones who can standout as really credible to tick all the boxes , as apposed to the many protenders , will if marketed correctly will see valuations rise imo .