"I would blame the timing of the cycle and hence investor...

"I would blame the timing of the cycle and hence investor assessment of this - something you struggle with"

If I can ignore the arrogance of your claim about me struggling... pull your head in. You sound very much like another poster here who made very forthright statements which have now proven as wrong.

So your premise is the cornerstones left because of the cycle and not because of AEE performance? And by performance, I do not mean SP performance, I mean:
1. Being late, more than once, on delivering Tiris DPS
2. Being late with spinning off Haggan via an IPO
3. Searching for a closer water source late in the cycle, By cycle I mean, looking for a closer water source well after the DFS was originally promised.

The blame, imo, on those 3 points lays with management alone. Nothing to do with the U cycle. It seems you continually post about the bottom of the cycle/the cycle and have even selected this as your nick. Why? Are you attempting to excuse management performance? Or maybe whip up some positive sentiment in AEE? All a distraction, imo.

"By 2021 95% of AEE investors will above water and by 2023 they will be very happy - as management executed reasonably ok and the respective commodity price increased by a factor of 2-3x"

How can you write this as a certainty rather than as an opinion?

Can you declare your average buy price on AEE as of now? Then we can all judge the veracity of your calls.