Well a $21 million tax refund spread over our 1.685 billion shares equates to 1.2cps. So one could attribute the rise from 9c to 10c to this alone. What's obviously an improvement with this company, aside from Directors now having some long awaited skin in the game, is less of a propensity to waste money. Under our ex failed CEO we saw our cash position seriously eroded quarter on quarter, and continual reports that offered excuse after excuse. That we have funded Federation development to date, out of an otherwise positive cash flow puts us on far more solid ground. This speaks of a more judicious spend of our valuable liquid assets. It looks to me like the projected $70-80 million of capital required to get us to Federation production is easily covered with our current cash reserves of over $100 million excluding the $21 million tax refund to come. The talk of Great Cobar to then closely follow is a plus and the funding of this also seems assured. My estimates of the total value is that there is over $4 billion in the two mines, maybe even closer to $5 billion. Let's hope we can continue along the current trajectory until we get both these resources mining at full capacity.
AMI Price at posting:
9.8¢ Sentiment: Hold Disclosure: Held
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