Ann: Mount Gunson Copper Prelim Feasibility Study, page-12

re: Ann: Mount Gunson Copper Prelim Feasibili... Zoomyjeff/Seals,

All points valid, and look, another word of caution: I acknowledge that GUN isn't the first company that trades at a massive discount to what potentially lurks underneath the surface. Investors are tired of this stock's never-ending "potential" and a little conversion of a bit of that potential to reality wouldn't go astray. Management are conservative. I've been in other stocks with "potential" like PCL for almost 5 years and you can only imagine how investors are waiting for the trigger to be pulled on the Mbawa prospect. And then again, others like EKM, one day start making the right noises and before you know it, the stock has risen 3-4x in a short period of time.

As for the JV bit, I wasn't 100% sure about that, Seals, as in the report, bottom of page 1, it said that in June this year, it had signed a deed of variation to excise MG14 and Windabout from this JV. In any event, the in-situ valuation of the Windabout deposit, be it for 50% or 100%, is still sufficiently attractive to develop for GUN. And again, what would the market prefer - some cashflow in 2-3 years vs ongoing share dilution to finance operations.

Totally agreed that the market is focused on the Coburn Zircon outcome, but Xstrata is looking for something on GUN property of quite different potential, and which should not be forgotten about. Let's face it: if Xstrata is quite happy to see Windabout excised from the JV agreement, what does that tell us about what potentially lurks underneath? (raised eyebrow)

Yeah, 10% rise from yesterday's market open is a zzzz reaction to another area of potential to which GUN is giving us insight. Maybe we need the tired hands to exit and some new blood on the share register. I will continue to accumulate on any driftbacks.

G