severe drought continues into march

Severe drought this year continues into March. 655.0 mm less rain than last year so far at the same point, but with an extra day included!

With all the positive news regarding successful reconciliation with the elders, not only is Deeps highly likely to be successful but now also Jabiluka looks like it may proceed in due course. I have no choice but to increase my long term fair value to $30. This valuation allows for uncertainty surrounding Jabiluka.

I totally understand that the market and brokers are very slow at processing relevant important information. A $30 share price is unlikely today. However the share price should open today around $2.40 to $2.50 range to reflect the continuing drought at Jabiru.

ERA will need to issue revised realistic production targets for this year to reflect the record low rainfall.

Anyone who sells for any less than $2.40 today needs to get a job at RBS.

Kind Regards

elc