IF - (IF), the JORC comes in at 5mt of high grade ore, say $60%,...

IF - (IF), the JORC comes in at 5mt of high grade ore, say $60%, at or near surface, then a $5 share price will equate to a raw in ground valuation of the resourse of $26.50 per tonne.

(This would apportion no value to the remainder of their assetts or their liabilities.)

So is the $5 SP soooo unreasonable?

Would love to hear from those more experienced in these things?

At least we will have some actual meaty numbers to grind through these fundamental calculators very soon.

I agree that it must have some fluctuation in it's trade sooner or later, although I suspect the JORC release (unless it is more than spectacular) may actually trigger a pull back if this upward drive continues much longer! (Buy the rumour and all that!)

With such a tight register it's trading may buck some of the more "usual" and "normal" trends but if the SP keeps rising this week and next then perhaps, just maybe, one or two of Hot Man's rumours may have some real substance? (or at least persistance?)

Either way you would think that with the SP currently much closer to $4 than $3, it will soon start to shake a few more sellers out!

I am holding on and still calling it a buy, i'll do so at least to $4.40 based on the assumtions I outlined at the start.

Cheers and profits to all.

Cabe