Posters on here refer to great fundamentals. I still don't see...

Posters on here refer to great fundamentals. I still don't see ADN as having great investment fundamentals - yes the product is very good (high quality), but one has to consider the purchase price. ADN, even after the massive selloff, is still capitalised at +$200 mio!

And what do you get for your $200+ mio? Blue sky CC (commercially unproven), concrete additive (commercially unproven), HPA (IMO ADN is miles behind competitors re this and the capital cost to develop HPA is very large), Halloysite (I was amazed to read one of the posts the other day which showed that the total global halloysite market is <$100 million pa (and it was hype around this halloysite that originally pushed ADN's market cap towards $1 billion!), CRM and PRM - the traditional kaolin products offered by many kaolin co's with much lower market caps than ADN (albeit it is acknowledged that ADN's quality is at the top end).

I like drinking Coke but would I buy a can of Coke for $10 - no I wouldn't. This price has now moderated to maybe $2 a can at ADN’s current price but I'm still not in any hurry to buy. When ADN was trading at $0.30+ per share I was roundly abused on this thread for posting that it was overpriced. I was also accused of downramping so I could buy in cheaper. Well, the price is now $0.075 and I still haven’t bought any ADN as IMO the risk/reward remains uncompelling. Having said this, the risk/reward is obviously improving as the price falls and at some point it will be good buying. I'm not sure where that point is and it is up to each individual investor to decide what risk/reward scenario they are comfortable with.

GLTA & DYOR