Ann: AGM Presentation, page-22

Whether you or I believe it or not is irrelevant re one seller.

There was a seller who had circa 4%+ and he dumped in a hissy fit which times in well with the big drop. If the stock had been placed by approaching management first it would have been more orderly.

If you check the top 20 before and after and tracked it, its obvious, his company holdings aren't in the top 20 anymore.

That's just what it is.

As for why no traction now, its frustrating and who knows. I did have a colleague who did mention a while back about swaps traders from Singapore love playing with Asx stocks.

The finance guy he was chatting to he said top 100? Finance guy replied, no bottom 2000. Take what you will from that.

As we get closer to the next stage it should bring a rerate.

Frustrating that this isn't higher but "you can't export conviction"

If Nick can pull of some more capital inflows via non dilutionary means and get some more visibility for the company in the Nth American market, then the SP should move north.

Its always what is the market pricing in? The biggest one is permitting or perceived issues.

Do yourself a favour and call Nick, he's approachable. Actually pick up the phone, you always get a better vibe that way.