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The MJG partnership has owned shares of Ardea for roughly two years. We’ve continued to add to our position – with recent purchases in late May and early June at just above A$0.40. This has lowered our average cost per share to A$0.58, which still sits above ARL’s most recent closing price of A$0.50.
An investment in Ardea remains a leveraged bet on the prices of nickel and cobalt. While I am not