what will be sp come wed 19/08/09 10:30 , page-15

Stuverine's friend raises an interesting point about the valuation of BAU when he say's "...a mate of mine whose a professional investor reckons at current bau should be trading around 20 - 30 cents given no one knows even if the bauxite operation in early stages will be profitable. He will consider changing his valuation when bau tell the market what their profit margins will be at 1 mtpa and 3 mtpa".

Bloods - picking up on this point, can you advise what is behind your assessment that at 80 cents BAU would be "way undervalued for its resource, acreage, structures in place, cash, its product and grade and so on". Have you done any modelling or is this just a "gut feeling"?

I am already in but would like to get in for more if I had some knowledge of the real valuation based on expected production, costs, revenues, and profitability. This is an great story, but it would be great to see some meaningful numbers if anyone has any?

Cheers

Zoom