copper deposit, page-5

Benny

I like your enthusiasm for SLR and I gave you a thumbs up for your earlier post letting us know about the RIU presentation. I sure would like SLR to grow to the size of WMC.

Can you let us know what assumptions you have made in suggesting that SLR's share could get to $20-40 in a few years. Using a price/earnings ratio of 12 and the 203m SLR shares issued or to be issued, a $20 share price would mean that SLR would have a market cap of $4.06 billion and after tax earnings of $338m (double this amount for a $40/share). In the current market environment I use a more conservative PE ratio of 10, but some people still believe in a PE ratio of 15 plus for goldies.

Do you have any minerals sector industry experience to back up your views?

Please do not take these questions the wrong way - I am just trying to understand where you are coming from because I have no special insight into mining. I think SLR will do great if it meets its targets and the share price will be more than 100% higher than its current level.

TIA.

loki (goldbug)