iron ore investors conference - thurs in syd, page-10

That makes sense tap41. Regarding the value JC, that is definately one way of valueing it, but they have to have a successful IPO first. Another way is to look to see if the sp drops because of spinoff after it occurs, I would say more likely to gain in value due to aformentioned reasons.

$10 mil is about 0.55c (half a cent) taking into account 245 mil MC and 13.5c shareprice.

I do get your point about the potential low cost of continuing to have the diamond exploration within. Maybe it's all about image for investors, maybe they believe it a waste of money themselves, maybe Kev's own risk appetite has changed as he has aged and can't be bothered looking for the bling any more, as it's too difficult etc.