4 weeks to lift off and counting, page-13

Pokerface, it's not easy now IMO to value sp for years end or for 2008 'cause there are 3 possibilities:

We have a 10 mil resource at Sandy Creek (300.000 t zn.) and probably this can be extended to 14-20 mil t.
when fully drilled out- so perhaps 500.000 t.

Neil Biddle said that this basic resource should be worth 150 mil $.

Next step will be a possibly mineable resource in one or better two regional targets. There is a chance that other zinc-pods on Manbarrum are as big or even bigger than on Sandy Creek-deposit. So we could get perhaps 30-40 mil t ore with max 1 mil t zn.

The very best case will be a MVT-deposit all over the more than 50 km strike length with several/many pods and a resource of 50-100 mil t.

If we take Neil's valuation then mc could be 150 or 300 mil or even 1 bil.

That will be a pps-range from 80 cents to 3-5 $.

Also important is the trend of the zinc-price which came down from the peak and hopefully we will get no further decline and price will remain at high levels.

IMO the fair value of an explorer should be less than 5 perc. of the resource-value and therefore in my eyes Neil's estimation seems to be very optimistic- but he is the expert and I'm a layman. DYOR