General discussion, page-8752

Still another way at looking at our situation is all the assay results we have since the SP first went to 'near' $15. We have pretty much doubled the resource size and increased the grade since then, with an increase in confidence level of what the resource actually contains.

This alone makes the value of Luni 2 to three times as much as back then. We've also had a cap raise of 4 million shares putting $40m into the kitty since then. That less than 10% dilution held the SP back as stellar results kept coming, enhancing size and grade of the deposit.

There is no way we were 'worth' the $US90B of ore in ground, which is my valuation, which is very conservative compared to others. If I had to work out a valuation back in December last year, it would have much lower $20-30B at best, as much because of confidence in infill drilling being much lower. Everyone professionally in the resource business will understand this 'confidence level' aspect of the inground value very well.

I hope people continue to notice that not one of the down rampers will give an inground value of the resource and include their arguments for such a value. The obvious reason is that every one of them could not work out a low value for the resource unless they used such stupid under valuations and costs, that would make them look more stupid, so their entire argument is "the price is going to go down", based on their wish to pick up cheap shares (or their employers wishes)...

I cannot believe that there is as many stupid, illiterate stock investors as those portrayed in the threads of this company, so assume it's no accident we've attracted so many when the stock is so undervalued.

All IMHO of course.