I have not spoken to the analyst yet, but I think that the explanation is as follows:
12 mth target remains at $2.20 until some further news comes out and $12.20 is the value to be built from Canada over 2 years, hence the target does not change at present as the value may take a couple of years to be realised.
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- comment from baillieu this morning
comment from baillieu this morning, page-8
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