1000% upside, page-25

kermit, good break down. Who knows what will happen, I think we all know its been undervalued for a while but its not reflected in the shareprice.

Remember Intersuise gave it an NPV of $2.14, see: http://www.ironcladmining.com/images/stories/presentation/ironclad_-_intersuisse_-_6december2010.pdf

So your numbers for the different years are surrounding that.

Intersuise is the underwritter so if they believe the $2.14 figure they will be happy to pick up at 75c plus free option.

I think this is what consistently frustrates Ian and as all.

Remeber what Buffet says:

“In the short run, the market’s a voting machine and sometimes people vote very unintelligently. In the long run, it’s a weighing machine and the weight of business and how it does is what affects values over time.”

Im excited to fast forward the clock and see where we are this time next year.