at face value, the stock looks cheap. i guess a few issues:
- since IPO, Sponsors have issued circa 50% in performance shares thereby diluting all IPO investors
- they are selling 1.5mtpa ROM but all to local market at low prices
- ceo has gone
- board has authorised that board fees be increased to $750k
- where will they get $200mn to fund development to 8mtpa?!
who is killing sfz, page-4
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