Craig, I think you'll find that Peter Batten is referring to what will be proven up in the initial stages of ongoing development at Daneros and most likey a little conservatism as a matter of prudence. The other aspect to this, no matter what, is the significant acreage that the Co has to expand into in new tennemants. Peter Batten's management team/track record and Shumway are a pretty formidable force in context. You can be sure they wont be sitting on their hands passing up fairly distressed aquisitions along the way either.
With imminent cashflow for ongoing development, expanded historical reserves and 22m in the bank soon, plus the huge boost that will come from a TSX listing I would imagine they are feeling very much 'in charge' of the Co's destiny.
Peter Batten clearly delights in "aggresively adding shareholder value" unquote.
All in IMO cheers
WCU Price at posting:
28.5¢ Sentiment: Buy Disclosure: Held
