Outrigger - I tried to extrapolate on an article received from...

Outrigger - I tried to extrapolate on an article received from BGF Equities (Warwick Grigor) that indicated the Forsys sale was based on US $8.00lb inground resource i.e. Forsys Valencia project 62m lbs x US $8.00 = US $496m.

If we use the same formula for WME: 34m lbs x US $8.00 = US $272m (AUD $418m).

Present market cap of WME is approx AUD $26m.

Bottom line - the Forsys sale has put a price on inground uranium resource, which should provide an indication of value for neighbouring properties, and WME is clearly undervalued - based on this criteria.