Totally agree, that was my first impression too. A great analogue is ADN, if they just stuck to their base market they'd do OK, but analysing alternative markets, products and uses could make them a mega company. Especially relevent now in a global transition to sustainable energy sources which is very metal intensive (at least in its infancy)..
Ann: MRG HMS - TZMI Engaged for Market Study of HMS Projects, page-10
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