allow me to play devils advicate for a minute, page-11

What Champ says is pretty spot on. MAK's rise has been largely based on the JORC'ed Wonarah deposit. Success at Arawurra would just be the icing on the cake. If the drill results are poor there we will probably see a bit of a pullback but it certainly won't stop Wonarah going ahead and pumping out 2-3Mt/annum.

RP prices are what is driving this. 6 months ago this was a worthless pile of dirt and it could well stay that way if RP prices pull back substantially. Thats the only real issue here. If RP stays at $350+ then the FMG comparisons are valid - the potential is massive.

Also, if you're looking for a long term position buy the MAKOs and convert. You'll generally get them at a 5-10c discount.