The painful average down here, buying in more. The demerged...

The painful average down here, buying in more. The demerged entities of ALK and ASM now trading well below the value of pre-demerger. You have to wonder to the sanity of that valuation by the market given the advancement of ALK's prospects particularly - understanble disappointment over cash burn and lack of new offtake news and previous offtake agreement details aside. Come on Rowena, pull your finger out and give us at least clarification of offtake progression - where are we on the guided initial Korean production ramp-up to 600tpa? The phase 2 expansion to 3,600tpa?

Becoming like her predecessor alas, lots of promised offtakes, but little delivered - still nothing on the USA Rare Earth agreement from a year ago. ASM are meant to be now supplying the majority of USA RE's 2024 'ramped up' production supply - according to both CEO's in August 2023.

The next quarterly needs to be a bit more than samples and a poxy 6 tonnes to NS World, but will unlikely be.