don't look back, page-41

RS has been known for quite some time now. KAH had been buying EXT back for a long while and a number of other players took stakes early before the rush.

I am agreeing that RS is a very significant resource, it has great grades, it not too deep, is fairly wide body and is fairly thick. These are all very big ticks as far as a deposit goes, and are the things that get a feasibility study across the line and to move to production.

I however think that a lot of todays shareprice (or a shareprice over $5) had priced in pounds in the ground south of zone 2. The geos at EXT may have some idea but as for the general market we really don't have any info to go on, I don't think there are any geophysical surveys around this zone, though I would like to see some and have a go at interpeting them if anyone can provide a link.

I also think that the market had priced in a takeover sooner than later. As evident the free held shares tightened and saw a jump in the sp. I think now the market is realising a takeover may not materialise until later down the track and has revalued accordingly.

My reasons for exiting were a combination of TA and FA. Technically is was very overbought, had gone on a huge run and needed some consolidation. Fundamentally I am looking at this as an explorer with a significant market cap, a number of years from potential production and a number of years before delineating the entire resource.

So as you can see from my post I am not downramping at all, I am simply questioning the valuations been put here. I had put a valuation on EXT and it smashed past that point and at which point I was happy to exit.

My other point is that we don't know geologically what occurs beyond the scope of zone 1 and 2. I feel that the market had already put a significant valuation on these areas and it remains to be seen what happens through these zones.

I guess I like to be ultra conservative based on these things. I do like to see a balanced discussion which also helps take the emotion out of it.