As an FYI Savannah Resources (AIM listed) owns only 20% of the RIO projects and is currently valued at 55 Million AUD. They do have another (worthless) lithium and copper project in the stable which dont offer much to the value in my humble opinion.
They have around 4 Billion at a significantly lower grade of 3.9%. and very similar mineral assemblage. One could suggest 1.8 Billion at ++5 with higher grade areas within this 1.8 target would attract a valuation of equal proportions. Maybe offer a 20% discount on size versus grade.
That would appear to value the Savannah project at over $$250 Million AUD.
I think that probably says enough IMO......
Ann: MRG HMS - Significant First Aircore Assay Results, page-401
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