Market ConcernsThe market had been nervous around the Akatara ramp-up/guidance, but this is further reassurance that the project is now delivering as planned, and is also being supported by outperformance elsewhere in the portfolio.
Market ValuationJadestone's shares are trading at a 71% discount to the analyst's NAV, which is the largest discount in the coverage.
Project UncertaintyThere is no value in the shares for this project, which looks harsh considering it appears to be moving towards FID.