I agree with Roger on the valuation, even given the slight...

I agree with Roger on the valuation, even given the slight dilution due to the CR. The underlying value of Mawson West is there, it is only been the demonstrable management shortfalls that has resulted in the share price woes. An old Boss of mine put it perfectly to me some time ago, we worked for a company with a gold mine with 1Moz in Reserve and 5Moz in Resource and the company was worth peanuts. As he said to me, if a company proves to the market it cannot make any money out of its reserves then that is exactly how they will value those reserves, 1Moz x $0oz (margin) = $0.... MW has since listing on the TSX failed to deliver on anything. The good news is that the reserves are real, and still in the ground, with Bruce at the helm there is a good chance they can now be developed and exploited for profit. Once MW starts producing from the main orebody in the Dik cutback it will produce an obscene amount of money. For example, I checked back on the old Anvil reports and in 2007, probably the last time Dik was in good ore, they spent $60m in operating costs and produced about $200m in cash, this is what Dik is about to do again this year. The bulk of the waste must be gone. If they can reproduce the 2007 result this is worth $1 a share itself!

So as Roger says, hang in there, I am now, I was wavering there for a while but have decided to let it ride. I get very little now, but at a fair price for MW is between $2-3, therefore 3 to 5 times the return I get now...

worth a punt.

Tubber