attempted value equation..., page-42

followme...

My projections were all based on the likely state of play in 12 months time.

As for comparing to other in-ground resources, there is no comparison.

All those you mentioned are discounted for likely future dilution...a stock with 500m shares on issue, with the resources you outlines, may well be trading at 44c, becasue the market knows to get the resource to market, they will dilute some 3-4 fold...in essences, whilst trading at 44c, at this price the market is saying the resource is worth say $1.76 (ie, 4 times 44c due to dilution).

In Fortitudes case, there will be no dilution, not only throuigh esource categorisation, but actually to production...it is more or less a free carry to production on 39.5% of the resource I outlined as possible.

Better still, we can increase our position in Fortitude to one of a controling stake.

As I said...there is no other comparison.

Cheers!