some questions on bau, page-11

NickR,

My DCF accounts for total 30m ton....

The estimates from the historical data indicates 100m tons+

Also I am high-end of OPEX and Low-end of current Bauxite prices.

I believe it will be multi-bagger if they can sure up more bauxite.

Based on the the worst-case (that actually makes production) we have 100% upside... Good risk in my opinion.

But - We still need a JORC resource before anything I say means anything.

Valuation based on "Best Case" is a flawed practice, so I don't post it... Best to stick to low-end estimate and then be surprised to the upside.

Just my opinion :)

Pat