building up , page-27

I said awhile back that below 15c was giving value away based on a rough in-situ calc.

Taking some liberties now following the +100m monster hole at Pedra Branca, a revised in situ valuation is minimum of 18-20c. If you want to see my methodology, search the earlier posts. But it is contained resource times a % of spot for copper and gold. Then adjust for cash and your estimate of value for the nickel and Vale i/ore. All divided by 1.3b shares.