deal on the year, page-29

SaberX. At the end of the day nothing can prevent a shareholder with a controlling interest (or anyone for that matter) from making a take-over offer and I cannot see Ichor being intent on staying at less than 30% shareholding, considering the substantive investment they announced today. I think the warrants are telegraphing Ichor's aspirations here more than being a measure protecting their holdiong in the event of further dilution. Agree on the $100m market cap, but in my book UNV should be at +$100m already, just based on their inherent asset value. The only Aus junior you can compare them with from a production perspective at this stage is COK - operating in a high cost environment with far lower returns, but with a market cap of +A$115m. Very few people realize that with the acquisition of NCC UNV's installed processing capacity already sits at 6.25Mtpa, all that for a total investment of a lowly $67m. To top it off their first mine was cash flow positive after the first quarter of operation! Impressive and on its own enough to warrant a far higher market cap than the current $45m Just my view of the world......