Buy Buy Buy!!! Keep Keep Keep!!!, page-82

EHR's share will be 25% after stage 2 earn-in, so a decent strike could easily send the property to a value of $400M or more, and EHR to around $1 a share. They are drilling 8000m over something like 45 holes covering the old surface workings, mineralised gossans and EM anomalies, so chances are really good. No doubt they'll aim the drill bit straight down the fault/vein systems to maximise the intersection widths, so if its there, the results announcement could be huge.

If you start talking takeovers in line with historic valuations & M&A activity, you can double that $1 estimate. If they hit bonanza gold here, and its of interest to the majors, there is no reason that this company can't go for $2+ per share.

I'm friends with one of Rio's global new ventures heads, and they are actively searching for opportunities exactly like this. They are aware of this particular project but would never buy in until after a resource is proven. I'm sure the likes of Vale & Barrick have similar teams with similar philosophy, so if a decent discovery is made, I have no doubt that it will get taken out. There just aren't many large, untested potential resources out there these days.

this really is an outstanding project. its been a long ride since the PNG days of Cott but we are far better off, and in a strong industry with a hot commodity.

GLTA and cheers to the other CMT old timers that have stuck around for the journey!