Kev, the reality is the people who run the numbers control where...

Kev, the reality is the people who run the numbers control where the funds they manage are invested. All other things being equal, if the numbers for Kogi Iron are better than those of other steel makers, Kogi Iron will see investment funds flow its way. If they are not, it won't. There is nothing more to it than that.

In your post you said "your saying they are making something that cost 100 dollars to make and is worth 50 dollars when finished. Mate that's nuts.". You have misrepresented the point I made, perhaps innocently but perhaps not. The feasibility study released by the board forecast a positive annual EBITDA. That does not equate to making something for $100 and selling it for $50.

What I said was, application of the commonly-used EV / EBITDA multiple to the adjusted EBITDA generates a potential market value which is less than 50% of the capex required to complete the project. If my analysis is correct, I cannot see how Kogi Iron can raise the funds required to develop the Agbaja project. Who will invest $2 to be rewarded with value of $1?

As before, my comments are based on my analysis and I welcome input which shows I am wrong..