maybe, page-3

Flinders, the only way imo NAV would be interested in bidding for PRE is if PRE was not overvalued in relation to NAV.

Unfortunately imo PRE is overvalued in comparison to NAV.

1. Market cap
PRE about $10 million
NAV about $40 million

2. Cash
PRE $750,000
NAV in excess of $6 million

3. Gold
PRE 150,000 ounces, much inferred
NAV Nearly one million ounces, at a significantly higher confidence level than inferred.

4. NAV also have a promising rare earths project