General discussion, page-119

Yes I did lighten off at 37c but I’ve bought quite a few more at 34-35c, back up to my largest weighting for a while, and nearly twice as many shares as last time I had this much cash committed to it. While it has been a consustent poor performer over the past two years, I try not to be unduly influenced by past performance, judging things on risk and opportunity compared to current valuation. On that basis, without betting the farm on it, or should I say waterfront, right now everything points towards more opportunity than risk, especially with most HC commentary at capitulation stage.