the proof, page-62

re: good valuation. TomG,

I don't see much of a problem with the valuation.

To make things easier, we'll just look at the Lithium figures .. since this is the main output.

1. No 'mining' to be done. This is a salt pan. You basically dissolve the rock, pour it into an evaporation pond, and let the water evaporate. That takes a few months.

2. Chemistry seperates lithium chloride from other salts.
(the reports do NOT explain the cost of this).

3. Lithium Chloride sells for $3500 USD per ton.
They will produce 6000 tonnes in the first year. This represents revenue of $21M US.

4. The tonnage that will be removed over 20 years represents 0.7% of the total resource base.

5. First output August 2005.

If you have specific points that you would like to pick about the report, or the chairman's report, then please make them, once you have looked at what they have to say, rather than making an assumption about what is/isn't there.

Why is it that thos who dismisses the report, will no put pen to paper, and show me the math as to why it is incorrect. To me, the maths is pretty clear, and favourable.


I bought at 5c and hold, with my stop loss.


Joel