Yep $$$$$$$$. That's what I'd call true value. (In fact, I'd...

Yep $$$$$$$$. That's what I'd call true value. (In fact, I'd call it a bargain....)

Let's assume, for a moment, that GWR has nothing more than the 126mt of DSO.

Current market cap puts the value of that at 50 cents per tonne. Now, I know it's a long way from the sea and there's a GEC going on but, come on, let's get fair dinkum. I'd buy iron ore on Mars for 50 cents a tonne.

Now, add in the current project that's targeting 320 - 470 mt. Then there's the gold and the uranium.

IF FAS is in fact looking to offload it's share in GWR, they'd be foolish to entertain any offers below $5 per share.

And even that would only be worth 32 cents per FAS share (which is fine if you got in after January '08).