Ann: Presentation - FY22 Full Year Results, page-41

Always great to hear alternate positions. It can only improve the collective understanding.

One of the lenses I like to look at Investments through is via an expected return calculation, and the gap between market value and the expected value is still too great to not having something on it.

It might be naively simple, but the value of Toliara if successful makes it a profitable bet even if probability of it getting through is less than 10%

In other words, if a horse has a 1 in 10 shot at winning and its odds are $50-1, you take that bet every time you can.

Hope you hang around for your insights.