nice rev in the oz today, page-15

Ok just a small example why I believe a 300 million mkt cap is cheap. Bearing in mind the Los Calatos resource is still in inferred and indicated category.

Anglo American's Quellaveco project in Peru has reserves of 10 million tonnes. Mitusbishi corp has recently bought a 18% stake (terms not disclosed) rumoured on the net to be around $890 million. MNC rumoured to be increasing LC to 15 million tonnes.

Sumitomo agreed to commit over $700 million US for a 45% stake in the Sierra Gorda project in Chile plus fork out $1 billion in project finance. From what I understand again a similar size project to LC.

Basically I can see why MNC's mkt cap could be triple what it is now. Like I said I would be happy with around double, 40 cents a share

Now the above comparisions are pretty rough and doesn't exactly compare the same shape and colour apples (ie final grade, capex etc) but I assume you will get my drift and is provided for discussion purposes only so DYOR.