I've no idea where the sp is heading, but I completely agree to...

I've no idea where the sp is heading, but I completely agree to your evaluation of management performance.
Well done, the demerger, the grant, these are important steps that are completely due to the management and show that the management team is doing a good job!

Actually I find many aspects of Rappaports shareholder value concept realized here :-) Seems that AS is doing what he learned in his MBA studies ;-)

My personal opinion is that Arafura should develop Nolans Bore as aggressively as they can and concentrate on this and must not waste management time and resources on other, secondary projects.
Mt Porter is a potential quick cash winning play and should be developed (union Reefs Mill), but I wouldn't bother with other opportunities such as Lucy Creek, Kurinelli, Frances Creek, Jervois, Hammer Hill, .....