Petey, i have looked at the transaction, read the prospectus,...

Petey, i have looked at the transaction, read the prospectus, and in my opinion i don't think what the company paid for the project is great value, i also see imminent cap raisings further diluting the project. Sure when they prove up some more Resources and one of the surrounding projects gets its infrastructure sorted then you may value the in-ground tonnage at $2 per tonne.

What i see in terms of the valuation of the company is about what it paid for the resource itself, just like the reviewer of the acquisition in the prospectus stated fair value of the project to be. He actually stated fair value was ever so slightly more than what ece paid.

After that i see a company with no cash needing to raise funds to do anything. No a good position to be in as a shareholder.

As i said, i'll be watching from the sidelines.