Ann: Mitsubishi Project Funding Notification, page-26

Adamark

thanks for the update. Just to join a few dots. Fat prophets doesn't give a price target (and probably for a reason), but if we use the Breakaway research on VML as a guide post. They allowed 30% of the NPV as the basis for the setting of VML target price.

If we allow say 50% for CNQ given they have sealed roads, infrastructure, existing product and a funder. On a NPV of $160m and 300m shares it gives a TP of 26c. You could argue 60% given the Mits announcement which gives TP of 32c.

Need to remember this is based on USD $1, ATP of $360 and doesn't include Iron Duke or Petersen's Lode. Plus other opportunities.

Certaintly looks like plenty of value left.

Darryle, hope your family member recovers.