broker valuation of 17c, page-20

Clyde, I'm sure I'm reading it right, as the valuation chart shows a 2 & 5c valuation per share, or $70m for both. However I don't really think their valuation really matters, because at the end of the day it will come down to negotiations and the number of parties interested in the products.

I also want to point out a couple of other things about the report:

1 - Westcoast - I keep harping on about the importance of WC, and this report confirms it. Note that the revenue for 2014 is forecasted at $10m which should see the company turn a maiden profit. In 2015 the revenue grows to $42m and a huge profit of $25m.

Although the report states that there should be no CR's in the near future, I'm thinking we may not need a CR ever if WC can generate these figures.

2 - Small company reports such as this one are normally instigated by the company to pump their share price for a CR. We're cashed up and in no need of a CR. So it's pleasing to see that this is a genuine report instigated by a broker for their members.