Ann: High Grade Copper Drilling Results At Eurinilla Dome, page-51

It's all very well to talk about metal recovery methods but all we have is a dated PFS and an unpublished update by OZL / BHP. The Cudeco plant may be the best (or worst) indicator of Kalkaroo metallurgy.

As for valuations, we've now got two far more advanced copper plays in South Australia of similar scale (30ktpa copper), RXM and HGO. Both are valued at around $150M. Surely those are reasonable indicators of the value we might expect for Kalkaroo. If you want to tack on extra for a takeover premium, fill your boots.

At best we're four years, probably five, from producing gold or copper - takeover...DFS...detailed engineering...finance...build...build

How much float is there in our boat?

The tide is coming in but we're firmly anchored to the sea floor by majority shareholders who, my guess is, are holding out for a payday based on a deposit they're in love with.

Who's going to have a crack? Everyone knows it's available, has been for years. Who hasn't wandered the data room already?