Ann: Chairman's Letter to Shareholders, page-13

I made a cup of tea and read the Annual Report cover to cover. Interesting that WM says we get the copper for free. I am wondering if an analyst could give us a range for what they think the West Desert project might be worth. I think they currently have around $5bUS in ground value there across the zinc, copper, silver and indium, but it is apparent there is very significant exploration upside plus I believe there is more to say soon about the indium. I note also that West Desert could be a significant molybdenum deposit and magnetite will be a nice byproduct. Not too shabby, and one wonders whether AW1 might be worth 50c+ without Storm etc. Very interesting opportunity at these prices!!