Running discussion on SP, page-54450

Spot on Roller. Retailers here are now a insignificant minority (but yet to realize it). Vocal yes but insignificant nonetheless. The time for rolling the mgmt team has long since passed perhaps 2 to 3 cap raises ago when retailers had more power and % shareholding. Nowadays retailers are simply minority passengers on this bus. Those who think otherwise are either simply overstating their own importance, are uninformed or totally naive IMHO.

Folks can bleat about "perceived" mgmt incompetence all you like but it will be to no consequence in the end. Personally I've been trading the stock market about 35+ years and am yet to be on a mining stock where all or the majority of the project milestones were delivered on time and on budget. This is especially so in Africa. Some Co's never deliver anything at all. If you don't like what mgmt have done thus far fair enough then sell up and buy something else and stop whining here. Not many people here will do this why? because they all know the company is on the cusp of becoming a industry bellweather stock and will be re-rated massively. Also because the current mgmt team have actually delivered (albeit a little late on some tasks) many company making milestones. Lets see we have a massive JORC, a PFS, a DFS, increase% ownership, several OffTakes for 100% produce, and large part of Finance secured to name but a few. Shortly there will be more finance (in the form of debt) and a BFS, a SEZ, and a ML followed by a decision to Mine. Sounds good to me

So for rerate ... Look no further than our closest and over inflated peer LTR now at a eyewatering approx $3.5b Mcap without even a decent at surface deposit or DFS defined. So they are perhaps 3.5x times our mcap simply because their mgmt team/sov risk??. Watch LTR deflate on DFS numbers once the market absorbs them and compares them to peers, Mgmt team or not. No mgmt team can wish away potentially hundreds of millions of tonnes (approx 200-300m) of overburden or increase the grade to AVZ level. Whilst they are digging through this waste AVZ will be producing higher grade premium spod at 10mt/yr essentially from the moment the 1st shovel hits the dirt. I'll eat my hat if they are still 3.5x Our mcap 1 year after production starts on both mines. Likely that AVZ will be 3.5x greater mcap than LTR by then.

So AVZ is on the cusp of mining this beast because the current mgmt team have actually delivered (albeit a little late) many company making milestones. If you want to make big $$ all you need to do is sit back watch the show. The market will iron out valuation anomalies with time.

PS: Just for the novices here PLS rallied for 3 months after mining development contracts were awarded.