Treefeed,
I agree- the notion of "too many shares" as a rationale for underperformance is a nonsense.
However I don't agree with your point about reserves. Far from being irrational this is a very pertinent issue. Lack of institutional buying is a major factor and most instos in this space have strict investment rules re minimum mine life/reserves.
Pleasing to see the issues with institutions on the register and reserves were acknowledged at the AGM.
I'll stick my neck out and go with 70c by xmas.
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