double jorc of 3 months ago, page-6

Saracen

Although I agree with you in principle regarding under value of SP I think the cost of mining should be factored in before concluding a $9billion value. I did my calculations based on a cost of $60/pound to recover - (no logic to price just an accountants conservative thinking!). However that still makes the company worth $2.5billion against the $100m current valuation which is 25times greater. Again allowing for conservatism BLR should be at least $1 (ten times) assuming succesful results of scoping study. Those results should be known by 30 April at latest so I am hoping for $1plus by June.

Look forward to all constructive comments.

Chelmers