ccu running ard is not, page-8

just doing a bit of research into ARD & i notice that the 22 october, 2008 ....... Peter Strachen Research Report (on the website) ....... rated ARD higher than CCU based on insitu values. with CCU in strong demand atm, presumably for it silver deposit, could ARD also become a target for accumulation by an insto or investors ???



".....Argent’s closest peers include Malachite Resources, Silver Mines and Cobar Consolidated, which are working at the Conrad, Webbs and Wonawinto projects respectively. Both Silver Mines and Cobar Consolidated have run their cash down to about $1 million and while ore reserves of Silver Mines and Malachite have a similar insitu value per tonne to those of Argent, Silver Mines’ has a very small deposit and Cobar has a larger total insitu value, with a much lower insitu value per tonne. Malachite holds about $3 million of cash and its Conrad project has substantial size, with an insitu value per tonne which is in line with the values achieved at Argent’s projects.
Overall, when comparing Argent’s market capitalisation per dollar of resource value, with those of its direct peers involved in silver developments in NSW, the company appears to be significantly undervalued by comparison. Argent attracts a market cap of about 0.8% of the insitu value of its resources, while the close peer cohort companies are valued with a market capitalisation of between 1% and 3% of the insitu value of their resources. On the basis of this comparison, it appears that Argent has considerable potential to triple its value, so as to bring it into line with these peer companies".