sale value, page-5

SBL $6m is for the freehold farm property on which Trilogy is located and the mining camp in Ravensthorpe which was upgraded and leased out recently to Galaxy. If SilverLake had to construct a decent 80 man mining camp in Ravensthorpe when the time comes - how much would that cost?

It is unique to own the land on which hosts the Trilogy deposit as well as its intrinsic value as a farming property in a very nice part of WA with great infrastructure and amenities. Airstrip is just down the road.

Up to $6m as a current valuation for both is not a figure I have pulled out of thin air, it is based on information from a reliable source.

Regardless of what net figure SLR would be paying for the Trilogy and Kundip deposits (and a lot of other tenements in the area) the current offer is a very low ball pitch. The lack of PRH (written into the SLR contract)to be able seek out other alternative offer means it will be up to the "Influencial Friends of Phillips River" to bring forth an alternative proposal for shareholders and at least force SLR to pay something nearer fair value.