fair enough nutty, i'll take your word/numbers for it.
far be it for me to lead this tutorial, but as we all know, fundamentals are always only part of the market equation/valuation. sovereign risk is another, and for some bizarre reason, investors just doesn't rate the drc!
i reckon avl's strategy should be to return to shareholders a high proportion of any free cash they generate. they shouldn't worry about capital appreciation as per normal mining stocks, because the market will always apply such a big discount to the stock. they should make a bucketload and return it to their owners. Now wouldn't that be a novel idea.
