nice try, WA1 never blew out to extreme high in valuation for what they have announced. China and Japan invested in Araxa in 2011 for a 15% stake each that comes close to $AUD 3 Billion each. Araxa resource is over 400mt @ 2.5%.
WA1, just for its high grade zone announced 53mt @ 2.1%. If we only look at the high grade zone of Luni;
53mt @ 2.1% Nb2O5 = 1.11kt
400mt @ 2.5% Nb2O5 = 10kt
So only the high grade Luni is about 11% of the Araxa resource, yet China and Japan paid AUD$ 3 Billion in 2011 for a slightly larger stake at similar grade.
WA1 has 1.9kt in total which is closer to 20% of Araxa.
You want to come here and tell us that a realistic price for WA1 is $11 which is a market cap of around $720m, with $104m in the bank.
So you believe the second largest niobium resource in the world (200mt @ 1%, incl 53mt @2.1%) is worth only $730m, yet you give thumbs up to posters who created a "1 Billion mkt cap" thread on SUM.
Stick to rock chips
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