dingo, page-103

Warnie

You need to look deeper with NWA.

-Smelter operations: back up and expected to return to profitability this quarter
-Management: on track to pull off hugely rewarding deal for shareholders.
-Market value: Raks has done the calculation below based on the last published announcement re subsidiary Congo Copper on AIM. It adds a 40M asset.

Even if the AIM listing is at half the expected value NWA will have another 20M on the balance sheet.

That's not allowing upside for new tenements, JV's etc in Congo. NWA have a local Congolese director on the board who has close links to the DRC government, a huge advantage given the recent moves by DRC to review and redistribute tenements.

I think we could see a minimum of 5 cents by March. Holders at this point don't need to wait more than another two weeks for an announcement. That's why nobody is selling. Compared to other specs NWA is putting in an awesome performance in this market.

Mid last year when the deal was announced directors were awarded options expiring this March at 10cents per share. That gives you some indication of where they ought to be heading.

Good luck to all holders!

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Here's what I've come up with from the quarterly, along with the other odd bits they've given us too.

167m Congo Copper shares at IPO level of 10p = AUD40m
Cash at Hand = $1.2m +
1.6m Uranium Aust Shares at par 50c = $800k
Plus Smelter royalty ex Korab in future

Total value say $42m .... with upside in SAMR float and Uranium Aust floats.

587m shares on issue = 7.15cps BEFORE anything new backed in ... (hope to hear more about that on or before August 14th)

So at 7.15cps with potential upside deals - why are we trading at under 2c? Does the market have NFI - or am I missing something?