If you rejig the Feb 07 numbers from the Far East Capital Report...

If you rejig the Feb 07 numbers from the Far East Capital Report )on QOL website) for current Tungsten price of approx USD240MTU and Moly price of approx USD35 and exchange rate AUD/USD .85 you get gross cash of AUD$18.71 mill.

138m shares on issue = eps of 13.5c. On current price = pe of 2.5. Just goes to show how undervalued QOL is as the project is fully funded!!!!

Current drilling to date indicates a mine life of 5.8 years. Far East Capital thinks with additional drilling it would be reasonable to expect a doubling of the resource.

Easy to see why based on the recent volumes we seem to have institutional buying going on.

DYOR