Ann: Letter to Shareholders, page-27

"............The point that resonates in the letter is Paul reiterating taking a long term view............."

Spot on there WE. Of course who does not want to come in to a stock at the lowest price where a record deal is tabled that same afternoon. Reality is Bio especially is about growing Oak trees and not mushrooms so for some there needs to be a bit of a reality check as to potential timing and outcomes.
Suggest this update reconfirmed a few things.
A) the shot across managements bow (strike 1 remuneration report at the AGM) resonated so you can be sure they will do what is needed to avoid strike 2.
B) the message we are all in this together (management and key players have stock - some at higher than current prices)
C) PH is at the table as Chairman - LC is and will continue to be doing an admirable job of CEO so has majority interaction with the market - a good Dir should stick their nose into everything but keep their fingers out so personally I dont want PH hogging the microphone.
D) The message is very clear - no bad news to pick over here folks - no metaphoric car crashes and in fact not even a parking ticket so as to speak.
E) whether the market goes up down or sideways the money in the bank puts this stock on very stable footing. No need to cut or park projects
F) the ship is not likely to spring leaks - orderly messaging is the order of the day.

As to traders (hi to you all - can we get back to some meaningful charts soon please) who cares where the price is as long as it is moving both up and down to provide a margin. Good luck to you and suggest you prepare to spend a bit more time on IMU over the ensuing period.
The summary of this message - not upramping - has to be that the fundamentals are all where management expects them to be. If you want hype and glory go find another stock to play in. This stock is looking at the long play of ensuring intrinsic value is achieved.