Given the NTA of the company is currently equivalent to approx...

Given the NTA of the company is currently equivalent to approx cash on hand (less debt) + FarmWorks (FWA 17.8%) +
MONTERAY (MRY 40.7%) there appears to be no current value attributed to the recent Mauritania Project (MP).

If the site visit next week and drilling in Jan 2011 suggest the BIF is worth taking to JORC then a move from 9c to 16c would imply an attributable value of MP around $6M. If CHF's price moved to 24c (all else constant) it would imply a value of $13M for MP.

Any comments (other than cash will be required to drill)?