Ann: FY24 Market Update, page-7

Stayer I think it's a combination of it currently being a micro cap (off most insto investment mandates except few boutique small cap funds) and current fragile market sentiment seeing herding into large cap defensives and bigger miners, and avoiding anything not currently profitable and certain of paying it's own way and chance of requiring further capital (even though this won't be IDT's situation).

Keep in mind once it's market cap grows these kind of stocks van suddenly come on to more Insto radars, and they are happy to pay more in return for greater earnings certainty, unlike retail investors who are more willing to back small caps with a good story / potential.

Be patient and I think IDT will prove very rewarding to all holders with 18-24 month horizon.