ernest henry mine versus aum, page-12

There are several factors to consifer in your argument.
1) The ASX accepted release would be, by any stretch of imagination, an extremely conservative of estimate of the orebody(the presence of the orebody is now generally accepted though the size is still unclear) though clearly McCrae was over exuberant.
You would however be forgiven that teh true figures currently lies between the ASX and McCrae's figure.
2)further drilling in what would now appear to be a clearly prospective area are odds on to yield further reserve, you really don't have to have a knack for gambling to like the odds.
3)its proximity to Ernest Henry would makes the size of the deposit now quite attractive to Xstrata. I know I know Xstrata does not like paying too much for anything which is why they have always been bridesmaid but to pass up such an opportunity, Davis would need to have his head read?
4)McCrae is no dill though he is rather colourful and he has been buying with his ears pinned back, why?
I do accept that there are some risks but if we wait for the bankable feasibility, we may get a little expensive for me.
I really should be talking it down as I really to average down my cots but this is the way I see it ATM. My opinion only. What would I know?