Ann: Further High Grade Copper Gold Mineralisatio, page-5

re: Ann: Further High Grade Copper Gold Miner... I think the Knaiguniah deposit is a good buy, even if its not JORCed yet. It's $8M for 50% of 750,000t of zinc and 80Kt of copper (ie; $2.4B in zinc and copper in-situ); all exploration costs to be repaid from the JVCo prior to JVCo being paid; and a dilution clause if the local Prince whoever who owns Manajem can't be bothered sinking more money into the project come financing time.

Its a complex deal, but Alara has gone from zero resources to $1.2Bn attributable in-situ resources for $8M plus/minus the structure of the deal. This represents a significant slug of dilution to current holders but considering the company will, ipso facto, be capitalised at $30M or so after the deal is done, and the broker has cleaned up a significant stock overhang, its definitely not what I would call a dizzying market capitalisation, considering what they could potentially have in Oman.

I doubt they'll get this whole PFS/BFS cleaned up in 12 months, but they shouldn't take too long to get the JORC done - probably 6-8 months.

Then there's the Chilean deal, which looks interesting. It depends how many old drill holes are not being talked about by the vendor, and the due diligence done by Alara, but again, this could be a significant base metals project in its own right.

$30M market cap, or 30c a share is quite a reasonable price in my opinion.