possible valuation

Here is a crack at what we may be worth:

Cash 11.2mil 1.3 cps
Oil 3p reserves 2.9 mill barrels @ $30 Aud 9.8 cps

That alone brings us to 11cps

Now I haven;t included the following:

Mirage Plant VPE want to use this with the Fury well
Wirraway/Warhawk reserves - unknown
3D has uncovered possibly ITC share of up to 8 mbo
Further upside from discoveries in other channels
Other unkown acreage
Siberia Tank Nickel tenements
Oil reserves fro Tigercat say 400 000 ie 1.4cps
3d seismic 1.6 mill dollar investment

I am sure there is more. Even if you discounted the oil worth I still think think that fair value for this company has to be around 15cps and possibly higher depending on what value you put on the future. I fthey are able to prove the reserves such that ITC has another 8 million barrels that alone is worth 27 cps at $30 per barrel.

How much blue sky is a company prepared to pay for all of this.

I really think we have to be looking at a teen price minimum.