nice result...

So...

Today's announcement effectively adds $5m to the coffers year on year (initially) assuming 100,000 tonnes per year and "$50 at the mine gate"?

I assume they will eventually be able to ramp this up further and even value add at some point?

Costs will clearly eat in to intitial profits...but I think the point ogf interest here is thay are off and running and future dilution may well cease!

Assuming 2m profit per year on this asset (after all production/administration costs), then this one project alone is wroth some 7c per share if we adopt a PE of 10 which some might argue is cheap for a 50 year mine life.

Assuing the entity value is about 3c, which seems standard run of the mill these days even for a shell, then at current prices, we get everyhing else for free.

Clearly value here, although I dod suspect a placement will be made on the back of this...say now more than 10m shares however, just to make life a little easier for them in the ramp-up phase.

Worth an investment in my books, in spite of today's rise.

I am in from 8c...out at 10...and back in in the mid 9s...and looking to buy more when the intra-day dust settles.

Nice product, nice industry...will find plenty of support...and interest.

Off and running....well done to those who saw it coming ood luck all.

Cheers!