I have a fairly simple strategy.Hold for 9-12 months from here,...

I have a fairly simple strategy.

Hold for 9-12 months from here, and in the meantime, let the Co prove up this one section of the first lease and offer it to suitable bidders for around $500m.

The short road to, and deep river port at, Lokoja would allow cheap and easy extraction of 10m t p/a. Chuck in a short train-line spur and there's another 10m t p/a. The Agbaja plateau lease may hold in excess of 3b t, but we only need 400m t to produce a 20 year mine for someone else. There are plenty of world steel producers looking for that kind of capacity.