There are a couple of issues from investors perspective. They might be listed as 1. short mine-life at Kwale. 2. sovereign risk 3. capital costs on the new toliara mine. 4. start up risks 5. major shareholders accumulating and keeping the share price down in order to do that.
The next issue is how much are they affecting the share price? It has held up pretty well considering all that. So the quality of the company and its management has shone through.
Ann: Presentation - Arlington Pre-daba, page-14
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