Earnings haven't been announced and they won't be until end of...

Earnings haven't been announced and they won't be until end of financial year, if then, given it's at startup and only 6-months of operation will have been completed for this year.

How did you come up with your valuation?

Snow Peak happy to use acquisition price of 5 cents (knowing that they help themselves to generate even further returns), the IE said CSD pre-acquisition was worth 5.5 cents, Mining Life said 6.5 cents entry, Ralph paid 7 cents, other institutions paid 10 cents, Breakaway said 17 cents without taking base metals earnings into consideration.

At 5 cents, that only covers the cost paid out for two leases and Wanguo's exploration agreement.

CSD has a tin project worth $110 million NPV from PFS (soon to be trumped by its DFS), thousands of square kilometres of highly-prospective leases, a plant at replacement cost worth $100 million (fully refurbished), etc, etc and other surprises, like the alluvial tin project.

Four years of downward momentum is coming to an end. Toughest four years to be become a producer, yet CSD has marched through those times because of its excellent prospects and backing. The next few years will deliver nothing but growth.