rick knows, page-12

BYRON

Another gem post.

Value of assets? Which assets are you talking about?

Uranium (WCU) - being sold for around $4mill - 20 mill sale reported today for $2mill with 15 mill to be sold for 10 cents so another $1.5 mill coming soon. Some WCU will be left over to sell on market at around 8 cents.

Iron - Sold to Cliffs for $1 million which has been spent. Royalty to be paid one day. Cannot value this as an asset as likely royalty will never be paid.

Gold - nothing to value.

So value of assets other than Golden Eagle is around $4 mill and the stock is valued on market at $13 million approx.

Golden Eagle is valued at around $8 mill after spending around $60 mill on it. Nice little earner for shareholders.

The big question is what is the value of the gas and will it ever be viable to extract it and sell into market?

This the only question that needs to be answered.