Ann: Full Year Statutory Accounts, page-11

I think this is total loss of confidence at best or more problems with production and exploration at worst.

I think they will turn it around but not taking responsibility for what happened in the past and not refreshing the BoDs is not helping at all.

No one can tell me the CAI investment did not warrant at least one Director on the Risk committee to be replaced. CAI reported multiple problems for while and ALK kept their full exposure during this period when in fact they should have reduce their stake as part of risk mitigation strategy.

But any positive exploration results from NMPP (if shallow that is) will trigger significant re-rate fast.