Brad Boyle Committted, page-111

Do you realize we are discussing different different issues and actually agree on some aspects. You say fundamentally ton and syr are similar and thus their values should correlate. Logically it makes sense if your premise that ton and syr are similar is true and I can't dispute this. My point is the market does not always deal with rationale or logic. It is ruled by sentiment. Hence the expectations and requirements will fluctuate and the outcome will be different SP actions. You can have identical announcements in 2012 and 2015 but it is how the market views it. You say the market got it wrong, the sp should be higher - that is precisely my point. For some reason or excuse the market doesn't value ton as it does syr. Then the next step is to theories the why's and how's that would improve sebtiment and cause the SP to climb. For me to improve sentiment in 2015 and considering other projects TON needs further clarity and finalizing jorc and giving optimism regarding dfs is the most important. If nicanda drill results come in positive and confirm what was discovered last year, TON's SP will get the momentum to rise and be sustained. So the first step for nicanda is to finalize jorc and confirm mineral resources. This will give the market and possible partners/funders/investors confidence. To say that because SYR didn't need to finalize jorc to reach 1dollar is futile because that is like saying the next child care center that mirrors ABC learning should be priced the same way - guess what it won't. Anyway we agree to disagree on some points.