why the low sp then, page-5

there are several reasons why this has underperformed:

1. One of the biggest ones is that the instos do not like to invest in a stock where one person controls such a significant holding (like fortescue)
- thus the stock is also subjected to small time traders.
- Look at GBG -> JP Morgan becomes a substantial holder.

2. Infrastructure benefits (MMX will be the midwest provider)

3. Larger resources and favourable news recently (GBG, AGO)

4. Lower costs of production (eg. lower strip ratios etc)

HOWEVER, at times there will be quite periods for these other stocks and ARH will start proving up more of a resource, nickel developments, ramp up towards chinese decision etc.....its just a quiet time......

ARH will be $5 by mid to late next year.

TheGimp