20c valuation dfs equities, page-31

This valuation by dfs was based on current jorc of 130 million tonnes for Laos. Shows our valuations not far of the mark based on upgraded jorc.

I stated my ev and dcf valuation based on ord getting 17 percent share of sarco and jorc upgrade to 300 million tonnes (slightly more than double current jorc) of 38 and 41 cents per share respectively.

Talk of struggling to get through 10 cents rubbish in regards to impending release of upgraded jorc, as suspect when just about released sp will be over 10 cents just prior to it's release as word leaks out...

Valuation wise shows the significant valuation upside from the upgraded jorc announcement, reason why hold larger core stock and just play with smaller amount of traders...as won't see single digits again for ord share price after upgraded jorc released...