You, along with many others, seem to take as an article of faith that Australian investors are way too conservative wrt Africa.
I could hypothesise otherwise. Other (eg US/UK investors via AIM and the TSX) might perceive Australia and SE ASia as riskier than Aussie investors do, hence the relative risk of Africa as lower. Also European countries can better protect their investors interests in some African countries (via various carrots and sticks) than Australia can. Even more so China and Chinese investors.
Still, yet to see "other" investors plough into STB, or into Eritrea by the horde. A place for cautious measured investment imho.
EL
STB Price at posting:
$2.15 Sentiment: LT Buy Disclosure: Held
