Ann: Investor Presentation, page-4

I'm a little confused as to why ORE are putting effort into showing that they are undervalued. If they are not going to raise equity for further expansions, are they doing this to show the banks that they can handle more debt? Multiples like EV/EBITDA would look more attractive with a higher market cap. A more far-fetched theory would be that it is for take over defence - very unlikely but still possible given Rio have been looking at SQM and KDR. Just curious as to what others think about it.