Ann: Trading Update, page-9

7c target price was their 50% risked valuation i.e. 14c is their actual valuation. From memory this was pre raise with the valuation reduced to 13c post raise. The 50% target price discount was also removed, so their current target is 13c. Still very healthy upside from here!

Overall a good set of numbers. The next two quarters are the main game though.

I wonder if a takeover will come in to play for this stock. Attractive supply/demand setup for bauxite, increasing production and not expensive based on analyst earnings forecasts. Only problem would be that the project is so secluded that it’s difficult to see where any synergies would come from, should other miners look at it.

Perhaps a play for private equity?