ARL management does not play the retail investor game - i.e. a...

ARL management does not play the retail investor game - i.e. a steady stream of hyped up announcements are not our go.

ARL management has chosen not to sell a chunk of the company to progress the project in an increment. It has chosen to be prudent with cash and wait for the big whale.

"market" doesn't really care for diligence and research (evidence is all across ARL threads). Therefore market assumes ARL management does not have a clear strategy going forward. The market does not bother researching the history of Ian B and deals done on this ground, and does not understand that KPMG are deep into our strategic partner process (and top ranked M&A team in this space).

this is why we have been chronically undervalued, but still SP has held up better than peers in real terms