Ann: Fungoni Mining Licence Application Update, page-16

Off the top of my head the market put a value in the range of $35-50million on Coburn back in the last sand bull market. But that was also a period of general irrationality. Right now I don't think anything is being attributed at all to Coburn, nor should there be, until it's truly resuscitated, since the company wrote the entire expenditure off several years ago.

If Luke gets it up, depending on the deal, we should probably see $25million plus come into the cap fairly quickly.