Far East Capital - weekly commentary - 9 Dec 2023, page-22

'all this is taken into consideration by the market and how much people are willing to pay for the share'

I think that you give investors too much credit. I think the average investor is not that intelligent, and I think that extends to the average fund manager, broker and analyst.

I think our share price could more likely be attributed to investor fatigue from long-term holders, lack of awareness or interest from a broader investor base, and possibly lingering displeasure or mistrust from fund managers in Australia that may have been burnt by Lucapa in the past.

I don't think it's the result of highly intelligent, calculating investors giving a perfect reasoned valuation of Lucapa.