compare the diagram, page-9

Bootleg I believe I have made allowances for all the tenements acquired. That was the trimming on the pie in my last post.

It is unexplored land, therefore not actually worth very much at all until a lot of money has been spent to prove it has any value whatsoever.

$15m for this land cannot be worth anywhere near as much as Gabinintha which has been explored over the years and now has a JORC resource. All of the shares held by those who paid for them plus the 40m held by GPN have a combined value of about $7m compared to $15m of value for those who received free shares.

Let's not forget those who got free shares still retain 68% of the land that they vended into YRR by now owning 68% of YRR.

So how do you justify $15m of YRR script for 32% of the unexplored land in exchange for 68% of Gabinintha?

Maybe I am missing something here, but based on what's been announced to the market, my own research and the questions I asked at the GPN agm I don't think so. The board was unable (or unwilling) to offer any insight into where the value was in the new tenements as compared to what others were paying for similar unexplored land.

I'm more than happy to hear different points of view, especially if there is information to support a particular case.

Cheers