My disclosure is incorrect, i dont own GUN nor WTR. I wrote on...

My disclosure is incorrect, i dont own GUN nor WTR. I wrote on WTR six months ago when someone aked me a question. I have written on here many times, but to just give an industry participants view.

Good reference from wikipedia about HM grades, maybe they got their information from DH. I can assure you, its been 3% forever.

As for WTR, i never said buy them, i just wanted you to give a reference point so a comparison could be made to Coburn.

Just with WTR and grades, if you read the ann, they used a 3% cutoff, just imagine how big the resource would be if they used DHs methodology of 1%

Just with your refences about market caps, your valuation between the two is silly, the chinese are stumping up the entire capex for WTRs project plus offtakes for 50%. No brainer why the board accepted that deal.

Last point, its not about the zircon component, its about what you can mine profitably. To rely just on zircon would be suicide.

Stradbroke island s the biggest sand mine in australia - no zircon there.

Pep