share price, page-33

In terms of Pluton I remain confident in the medium and long term prospects of the company. I have tried to compare the value of Pluton resources to that of Mt Gibson at Koolan (assuming other Gibson mines have limited lifespan). Resources 67MT vs 14.1MT (or 7.05MT for Pluton and 7.05 for Wise) and Market Cap $M1118 vs current cap $M58. Notwithstanding that Mt Gibson ships 3Mt annually with established capabilities - market cap of Pluton on current figures should be more like $M117 representing share price (assuming 400M shares) of approx 29c for Stage 4. As stage 5 progresses and possibly stage 6 and certainly Irvine the resources and hence market caps of the 2 companies may be equivalent over the next 3-5 years.
Waiting for 3 announcements 1) the completion of Stage 4 wall. 2)Drilling results to sure up the block of pure haematite in the sea wall 3) Funding to rapidly pursue stage 5 development.Hopefully all these in the next quarter and then some serious interest when the next round of investor presentations due.
Tyremen