Ardea didn't multibag due to new discovery, it multibagged because the ipo was improperly valued. Spinning off the company at a discount rate was a sub-optimal outcome. The massive ROIs, in many cases, have not been experienced by, but rather at the expense of, KPO holders. I don't think ARL will be the life bouy at the AGM the Heron Board expect it to be. They'll need to answer for the state of affairs at HRR
Ann: Founding Director of Heron, Mr Ian Buchhorn, Steps Down, page-8
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