bcd flying and mak own approx 45% of it, page-4

yes they are very good at driving a bargain. i'm mainly holding atm mainly because atm i see them as undervalued even without the verte deal. holding for free tnt shares verte funding deal would be a big bonus.

i forgot at ucl value.

so mak have roughly

$18mill cash(end of dec quarter estimate)
850mill bcd shares(@2.6c)=$22.1
267mill ucl shares(0.9c)=$2.4mill
same interest in nambian rp project as ucl =$16.8mill
tnt shares (1:5) at say 20cent per share =227/5*20=$9mill
total = 68.3 mill
market cap = 86.1mill
leaving wonarah, salt & iron ore project =worth $17.8mill

and wonarah is massive a 100km strike length 10km wide the bulk not drilled out. the last quarterly said they were drilling out a new high grade area near the road that has potential to have better economics than both aruwurra and the main zone.