drp, page-3

And also just quietly nudging in and on an unrisked basis also:

1. there is a need to include a potential 50% interest, and thus income interest, from the planned 1000mw Pakastani plant;
2. there is likely at least some JORC capital value (accepting that we are in quite unknown territory there, as to both the Au and Pakastani resource interests);
3. many agressively expanding juniors (if CXY will be capable of being described as that in the future) trade on 15 - 25 times earnings.

I think you undervalue, substantially and in a manner discordant with the market caps of, eg, Lnc, Mee etc.