Ann: Quarterly Activities Report, page-32

Even Edison who needs to be very restraint on what they can say as ALK pays for the report they still send subtle message with the last sentences.

".. albeit with the proviso that the project-based valuation would increase inexorably, both as a result of continued resource increases and upgrades and as a result of Alkane’s de-risking the project by achieving future development milestones. As such, we calculated that Alkane’s share price was more than 100% covered by the value of tangible assets (cf 56% previously), with up to A$0.59/share in additional upside available in
the form of further exploration success in the Northern Molong Porphyry Project as well as the ever-increasing probability of the Roswell underground extension project being sanctioned."