Ann: Investor Presentation Material , page-77

mir,

Disagree in some respect. If you have one holder with 35%, the co is always under T/O threat re ADI. Major holders are always willing to sell for the right price. Never ever fall in love with a stock.

I think OGG's comment of $6-$9 sp is wishful thinking at the moment, but not out of the relms of possibility given time, depending on the POO.

The way I see the sp going is slow but constant upward progression as the drilling program proves/moves the P3 to P2 and P1.

However, one of the main reasons IMO AWE took over ADI was to be able to book the reserves into their bottom line. When you are looking for finance or shareholder value it's always a good look to whip out a preso stating large reserves. Doesn't matter you may forget to add it will take 20 yrs to extract. Having 30 odd % is a nice head start but remembering it will take years for us punters to unlock the true value where they can slap it down immediately into their reserve bottom line eg P1 - P3 etc to leverage off it.

So to cut a long story short, other co's will be looking good and hard at AUT just to book the reserves in their bottom line to leverage off.

Just my thoughts.