Yes absolutely, otherwise they wouldn’t be buying. To be clear I...

Yes absolutely, otherwise they wouldn’t be buying. To be clear I think the Matilda project is economic (borderline) which makes up about 25% of the resource. I think the Wiluna ore which make up 75% of the resource and much of the expansion program is not economic so I attribute zero valuation to that. When you apply a discount cash flow model to come up with a Net present value for The matilda project, my calulations value the company a lot lower than today. If gold price can break out meaningfully on a long term timeframe (which it is trying to do), I will likely just buy even though it exceeds my valuation, because of the enormous leverage. Otherwise I will wait for it to come back to my valuation and reassess if it’s a buy at the time.