explorers conference

Was fortunate enough to attend yesterday's explorer conference at the Esplanade Hotel in Freo and listen to Brett Lambert talk about THX.

Very, very good presentation and he came across as a good speaker but more importantly he highlighted just how undervalued this company is when you look at what the next 12 months holds in store for us holders.

BBY has a price target of 62 cents and we are trading at half that...go figure..

I reckon we are vulnerable to a takeover at these levels?? Not sure at what price that would be but you'd have to think it would have to be higher then BBY's valuation of 62 cents then.
At least 70 cents but build a premium of 40% on 62 and you get 87 cents so somewhere between 70 cents and $1 is the ballpark figure.....Or so goes the rumour I heard there anyway.

The key to a successful takeover is to get Phil Crabb onside seeing he is the largest shareholder and I know he thinks the company mc is way way too low.

Aside from that the value of their investment in UMC has a long way to go and could be an easy way to build a strategic stake in UMC of 13% fully diluted to the right corporate raider.

As Brett rightly stated a MC of $37M with $28M in cash and investments leaves an attributle value of $9M applied to 40% of a soon to be operating nickel mine, excellent uranium prospects and base metals projects.

Sophie Downs is shaping up to be a very exciting prospect that they are itching to get in there with a drill bit asap and they were disappointed that they could not get in there and drill it prior to the onset of the wet