Ann: Total Elan Project Resources Exceed 450 Mt, page-9

Accept we are speculating here on what is likely rather than 100% probability/certain. Hence its 1/10th value p/t. Riversdale 195Mt in Resources (88Mt in saleable Reserves) vs all in Resources for ATU. Fair bet in 12-18 months ATU significantly betters this. Hence my comment about being 12-18 mths behind realising that $/t.Estimates I have seen from analysis to date is both strip ratio and quality is ~cet. par. The sites are neighbouring from what I understand and hardly irrelavnt...all three analysts covering this stock use the same comparative sale.. it's rare to get such a similar local comp.