don't understand, page-21

But surely that's how people make money in these types of early stage production plays.

They take a risk. They look at a company's assets and form a view (rightly or wrongly) that sometime in the future this company will be a strong, profitable and valuable company.

And then they invest and sit tight until their view is (hopefully) realised.

If you invest when the company IS a strong, profitable and valuable company, most of the value (blue sky) has already been factored in and the upside becomes somewhat limited.

So while you might make 20-30% on your money investing at this stage, the guy (or girl) who invested at the early stage has made 600- 1000%. Risk v return.

Those people who invested in AZZ at the early stage production level and were not expecting or factoring in some hiccups or teething problems to occur along the risky path to full production shouldn't eally be in this stock at this stage.