my analyst had a quick look at albidon, page-2

Aman,

From AGM presentation:

Recovery of at least 68% average for 2011. To improve to at least 72% from January 2012.
Concentrate must be a minimum of 10.5% Ni.
Nickel grade requirement - 1% minimum for the remaining LOM.

So that's most of what your broker wants to see. By Q3 it should be clear whether or not they have delivered operationally. If this does not result in the re-rating surely you would agree that something is fundamentally wrong and we will need to get on to the company again to get them to put it right.

In the meantime, I am advised that the options that were not granted at the AGM have been re-issued at a higher exercise price, so it is good to see the board recognising how undervalued this is right now and not abusing that fact to line their own pockets.