I would put Mt Carbine as asset no 1, even if it has not been...

I would put Mt Carbine as asset no 1, even if it has not been bought yet. From press releases, they paid the owner shares twice to keep the option of buying the property from him. It needs to be seen whether RAU can finalise the deal. I am sure the owner of Mt Carbine must be aware of the meteoric rise of RAU SP. Mt Carbine was the second largest tungsten mine in Australia after King Island scheelite when it closed. On a world scale in the 80's and outside China (50+% of world tungsten reserves there at the time), Mt Carbine easily ranked in the top 15 tungsten mines.

I would put the gold deposits at number 2. They can be a foundation cashflow to generate money for bigger projects, eg Mt Carbine.

I would rank Burraga at no 3. It can be a good asset for joint venture.

I would rank the Whumbal prospects at no 4. Lots of work necessary to bring them up to resource and reserve status. However, there is great synergy with Mt Carbine.

The factor X is the court case in Canada and the chance to acquire Lipichi (Bolivia) as settlement. From the annual report, my guess would be that Lipichi could be 3-4 years away from production. Bureaucracy and logistics in Bolivia are huge!

What do you think, Uboy?