MEP or ADN, page-779

In a technical, economic sense, Already is perfectly correct.

There can be wide differences in projecting and valuing future dividends. Short term traders seek to exploit this. While they think they are playing daily price movements, in reality they are arbitraging between the different valuations other players put on future dividends.

The Great White JV is looking at margins most industries would kill for. Profound uncertainties - which may be allayed by the B/DFS - exist for all applications from concrete to nano-whatsits. Their potential must be discounted.

Holders who value a business highly don't sell; buyers who value it low don't buy. Both are irrelevant to today's price. A market is made at the intersection of willing buyers and sellers at today's price.

Ash