@bcjk3, I think that you are absolutely right re standard...

@bcjk3, I think that you are absolutely right re standard ceramics numbers. And I believe that this is where a lot of the trolling comes from - their inability to see beyond the plain obvious. Indeed, JM has mentioned on several occasions that some struggle to grasp the bigger picture. He was referring to lenders as opposed to small minded simpletons, but the point remains that ADN is multidimensional and not just a straightforward kaolin supplier.

The presentation once again demonstrated the tremendous vision of ADN and quite what they, as true experts, see developing. What wonderful forward thinking by ADN. Whilst of course they are producing for the porcelain market, the potential in the add on areas and in being the market leader in terms of research, knowledge, and preparation is huge.
Talk of pricing for something in terms of not only current known sales but also reputation and goodwill is pretty pointless when you are the only company in the world with the goods, in areas that simply have not been exploited before!!!!! I understand that that is too much for some to comprehend, but there are plenty of meat and potato companies available to invest in should they need something more straightforward.

I remain unphased by valuation numbers and see plenty of upside as a whole new set of opportunities open up for ADN. What an exciting place to be, to be bringing product forward over the next few years that enables some of the brightest and best, globally, to bring their envisioned products to market as the human race pushes forward to new levels of acheivement.