(comparing GUN current to MMX at 40c just after posco bought...

(comparing GUN current to MMX at 40c just after posco bought in)

1. Both had significant resources (mmx fe ore, gun zircon - ignore copper for time being).

2. Both had concerns about getting to market. mmx had the transportation to port and port issues. gun has this environmental approval problem.

3. Resource spot price was increasing and resourse was under heavy demand.

Admittedly we also have the rights issue hanging over gun's head which I don't think mmx had. Still....