why ADO is a multi multi bagger, page-170

On balance, and to try to be impartial to my personal views, you would have to think that an entry into this company would require a level of caution.

It's a million to one shot! The way I see it is they are 'setting up', by their business structure to be taken out cheaply, with the majority of the current mgt going along for the ride to a new destination. The Ferroglobe settlement was a thorn in the side so they had to settle to get out of a protracted mediation process. All that shareholder funded development and research must ultimately reach an end point it can't just continue ad-infinitum!

Look for the weeds below the roses as they somewhat are overshadowing the full blossoms.