could it be worth 170 a share, page-16

FedExpress...

Ever heard of the saying...

Better to keep ones mouth shut and be thought a fool, than to open it and confirm the fact!

Nothing wrong with giving ones opinion...but at least try to be informed before you do.

lol...you reckon they will issue 200m shares?

At tonights close, that's $1,050,000,000...firstly, it will not cost anything near this to fully fund any required infrustructure, that's if they were to go it alone in the first place...unless of course they opt for a significant annual through-put, in which case, the shares will likely rise further prior anyway.

Do you actually know anything about path to market for such a resource...if so, would you care to comment on FMG's market cap ($2.5b) or PDN's ($2.1b)...both of projects of lesser significance?

It appears you do not understand the geology equation here...and its similarity to Ernest Henry's ore. I put to you that the metalurgical testing you refer to will be straight forward and possibly even neglible in the wider scheme of things.

Do you realise that AUM could now get this project to BFS stage with no more than say 10m shares being issued...at which point, the operation would probably support a pre-development share price near $20?

At this price, issuing just 37.5m shares would give them $750m for development...of course, once the BFS is done, a combination of bank finance and share issues would be the likely scenario, further reducing the need for dilution.

However...all of this assumes they get that far.

With Ernest Henry nearing the end of its life, AUM's Rocklands project is by far the most attractive replacement in the region...not onloy due to it's shear size, but more importantly because of it's perfect metalurgical fit!

Forget testing, just run it through the existing plant and see what happens...I suspect you will find it will process without trouble.

This is one of the key value propositions for AUM.

Cheers!