USD 3.5 billion without the Manganese...add it in and see where...

USD 3.5 billion without the Manganese...add it in and see where that takes the valuation figure.... seriously undervalued in my book.

I loaded up last year at an average of 0.7 cents and bumped it all into my SMSF.

Now, its unbelievable we are almost at pre drilling prices and I have picked up more before the next round of drilling starts. My view on the project has not changed and now it is just a case of waiting.

My estimate model is also in the range 10-15 bags (11.9 - 17.8 cents without the Mn), so not an unreasonable range in my opinion.