Thanks Rewop for that newspaper article .Observations;- over the...

Thanks Rewop for that newspaper article .

Observations;
- over the period 2008-2011 when drilling for Uranium,

the MC of Thundelarra (now ASX:OAU) increased by about $50M to $60M.
- when the project fell into our lap last year our MC only increased by $11M (.03c to .05c)

- In 2009 Uranium was fetching $US 42 a pou
nd, (exchange rate at the time was 90c.) or $AUD 46 a pound.

- today Uranium is fetching $US 90 a pound , $AUD140 - a whopping 300 % increase.

- if the market reacted the same way as it did back, we would be trading at 3c not .05c

- February 2011 Thundelarra announced a maiden MRE. The market was disappointed because it only was very small due to not enough drilling.
- Thundelarra feverishly plan the next drilling campaign.
- March 2011 the Fukushima disaster sent the Uranium price down to $US20 a pound. (It costs $30 a pound to mine)

- project mothballed, somehow turns up on our lap.

- below is the Thundelarra chart at the time.


IPOs - if the merger between KIN & PNX was an IPO it would list with MC of about $270 M
I base that on other recent IPOs of BGD and FAL where the market cap was 3 times the amount of cash held.(90 x 3 = 270)