2021 - General Discussion, page-5565

I’m broadly in agreement with much of your post. A key element in determining a fair SP is what level of risk discount to apply. I’d argue that the risk rate implicit in the current market SP is high but not unreasonable. I can therefore see why the Current SP could be considered as fair.

However the real icing on the cake for me is the potential extra value add to the JV Alcoa brings if it is successful. I don’t think this receives any recognition in the current SP and yet I regard this as having at least a material probability of realisation. For this reason I see the 9th November virtual game Investor day as important.

yes it may now be a more speculative stock than we all thought/hoped pre announcement but I’d argue this additional upside still makes it worth buying.

imho dyor gltah