Ann: Quarterly Activities Report, page-187

"Plenty of upside even on downgrades " - careful with that. Downgrades are never good. Especially when they come while POG, despite recent falls, still trades at historic highs.

At one stage Ord Minnet had ALK around $1.30 - if I remember right... around 2021. It seems this is not their first downgrade of ALK.

People should ask - why are these downgrades coming. Surely the management and BoDs has to take some responsibility. But in our case is just investors are too stupid to get porphyries. lol

And the latest - see Crux interview - the MD describes (the way I understood) ALK as explorer with positive cashflow but then says - production is all that matters (yes to a point) and anything else is spin and gloss. So, making another discovery is spin and gloss? Finding higher grade zones at Boda is spin and gloss?

no wonder they are not in a hurry to follow up on the zone around 094, and at Allendale. Silly me for thinking making another discovery will trigger re-rate.