"If production was 2-3 years out from here, why buy now when you can buy at 2-3c in 2-3 years time?"
Why was I and other investors buying A4N three or four years ago below 20c knowing production was at least 3-4 years out? The sp is now around 80c still around 2 years from commercial production.
Why buy an explorer maybe 10 years from production? Why invest in seed capital?
We buy for the upside.
Generally, the earlier stage, the greater the potential upside.
Ann: Phosphate Fertilizer Project Update, page-402
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