Fundamentals, page-40

I am in AGY and LPI for completely different reasons. It is not a case of superiority, it is a case of risk spread for me, as for positioning size well the answer isn't black and white, there is a lot of circumstantial motivations that contribute to my size positions, structuring investments for tax purposes, freed capital etc. I will not get in to the comparison debate here re AGY.. If any comparisons are made it should be with ORE/SQM/GXY and ALB

GL