price, page-16

re: next oxr : did u know rio has a royalty from b RIO sold out when it was divesting all noncore projects globally and non-iron ore projects in Oz I guess. Had a mate working for RIO at the time who lost his job in the shift in project strategy. And anyway at that time, the tonnage delineated was too small for a RIO anyway. CMR have trebled the then known reserves since. Suspect thats why RIO now have opted to equitise some of their future royalty stream and who knows what plans they have ahead (?) How do u think OXR picked up Sepon from RIO similarly.

Uranium has always been there but only recently come up in price and lets not forget the political shift in progress now favouring it. The time is right so its coming outa mothballs like so many other projects ...iron ore, nickel laterites etc etc. Except we got GRADE intersections in our back yard.

Metallurgical complexity relates to sulphides only but even that has been resolved per pilot plant tests ...they have spent 15 mill bucks on the Browns project working out the answers it seems.

Heap leach is a standard SIMPLE process for oxidised ore. Lowest cost / lowest risk / highest return. Only reason this emphasis on oxides wasnt done before I guess was cos Doe Run prob wanted the cream as part of the overall. Suspect we wouldave been producing in 2002 if they hadnt tied the thing up with the overall 500 mill buck capex requirement.

Two new directors have previously set up such simple oxides operations successfully and in third world countries of greater geopolitical risk. This is a piece of cake in relation to. They are considering one more modification ie agitation to bring backeven more candy faster to the loyal.

And lets NOT forget that at the time the 500 mill bucks capex sulphides project was being considered and Fed government also contributed 6 mill bucks towards it then, copper was at 65c / lb,cobalt at 8 bucks and nickel at around 2 bucks from memory. How things have changed since.

What have I missed in answer to the question .........copper will be extracted as METAL ie LME Cathode .....simple and standard which is what OXR and PNA are gonna do. (Did u ever imagine PNA at 200 mill bucks, let alone OXR at 1.2 billion. Dontcha just LOVE that.)

However, cobalt and nickel will be precipitated as chemical salts with no metal extraction and sold for metal content, even tho they will prob get a premium selling them as chemical. Cobalt chemical is going into mobile phone long-life batteries and is in demand at 15 US bucks / lb. We will be the only PRIMARY producer source outside the DRC so dont have to duck the bullets. Suspect the global buyers are prob already lining up at the prospect of a safe source.

Our friend will still be calling it a spruik when we r producing next year. Of course there is still the project finance to nail ......but considering it was ALMOST a goer for 500 mill in a lousy metal market, cant see any prob with a fraction of that in this market. If u compare the value per tonne of dirt coming out ahead, u will see ours is at the high end of the value curve. And its sitting where u would hope to find it.

Start asking yourselves where those 100K bids are starting to come from. First it was 25K, then 50K and now? Looks like the pro money is starting to appear and they seem to be anxious as volume once again dries up. Thats about 5 mill shrs soaked in recnt breakout of 12 year downtrend. Im counting the numbers and wondering where any loose scrip remains. And if they r now bidding in lots of 100K ....havent seen that before .....u gotta start thinking seriously.

There's some kinda mining conference in Perth next week and i see the NT Minister for Minerals and Energy presenting. Pity I cant go cos given the state of affairs, suspect Browns development is likely to be near the top of the list in his show and tell. Wonder what wld happen if the Perth cowboys started taking a liking.

So far IMO price has performed exactly as one would expect based technicals and cosmics as supported by fundamentals. All the major pivots have come into play viz 22, 44, 66 (+/- a cent or so), so suspect next one coming is gonna be around 88 (?). My main launchpad base Im looking for is 110 tho cos that then brings into focus 220 (ATH and my first tenbagger target), then 330 which roughly coincides with my PER 6 expectations and who knows after.

But thats all my personal interpretation of the facts exposed of course.

Love to know who's bidding in lots of 100K now. Why would u expose such size ........prob a foreigner who doesnt know how this baby reacts to such overt bids. Noticed it came on when seller was at 61 ....but the seller got quickly gobbled up.

With directors and colleagues (JP) now openly buying, suggest this is more than just a spruik. I know how easy it is to hate a stock once its bitten u on the bum. I lost 70Gs in 2002 on this. But the measure of an Olympian is how hard and fast he bounces back. This stock has "Olympian" written all over it. And it now seems to have failsafes intact as well IMO.

Reckon we should all attend the AGM coming .........historically its been in April ......and ask them the curly questions direct istead of wondering in here.

Watching that 66 pivot closely today.