All I'm going to say is that there is something not quite right here

Now trading at market cap of 200m but still below the NPV.

Sometimes you can't use NPV or NTA as a guide for future returns - especially when it is a mining company that always seem to trade at deep discounts and are always price-takers.

Especially when it is an out of favour metal such as bauxite

But I do remember doing something like this before with Red5 and totally missed an opportunity.

An opportunity sitting in plain sight, or one to avoid?