Ann: Quarterly Activities and Cash Flow Report, page-33

Yep, fair enough. I think you’re correct; it’s probably unfair to list them all off like that - there will be nuances behind each issue. The broader meaning was that evergreen optimism here hasn't served too many that well. But point taken, cheers.

Amidst the kerfuffle of a disappointing raise and -19%, the point old mate makes in the tweet I posted above was initially lost on me, but I think it’s very important. Whilst the likes of LKE, NVX, VUL have been showering themselves with cash, Galan have put the lion’s share into their project and only minimal amounts ($1M p/q) into corporate. Whatever other criticism there are, that’s really very impressive.