briefing with german shareholders frankfurt, page-5

Occam - why should we forget about the SP? That's all we have at the moment. No dividends, and none likely for many years yet. So where is the return on our investment other than in the share price?

The fundamentals make not one scrap of difference, if sentiment is against a stock for whatever reason.

ARU management did an absolutely terrible job of selling their new "plan" to the market. They really needed to have got a good spin outfit onto it.

People's portfolios are valued at the share price - specifically the closing price on any particular day. With at stock like ARU - which many of us have been holding for years - the value is being whittled away quite dramatically. And that is NOT a good look when your portfolio value gets slashed like that.

For ARU holders, I'd venture to suggest that the ONLY value in holding the stock is its share price. Maybe there could be dividends - but as there will be no production for at least the next 3 years or more, and then the ramp-up phase and any future cap raisings and dilution to consider - the current share price is the only way to look at the value.

And it's NOT a good look. Especially when you say that the fundamentals haven't changed - they HAVE. The extended BFS and the need to raise more funds HAS changed the fundamentals.

Still not happy Jan.... the management are NOT looking after the shareholders' interests.