ARE would have to be one of the most unfashionable, un-hyped and...

ARE would have to be one of the most unfashionable, un-hyped and miserly spec plays on the ASX today ..… consider the following :-

1. LAOS

Just a quick search on the internet has daily wages at US$1.19 per day or $30.98 per month for factory workers … I mean, I spend more on a cappuccino than what they make in a day!

Refer to http://www.state.gov/g/drl/rls/hrrpt/2007/100526.htm

So lets not kid ourselves, ARE are getting a huge bang for their dollar spend

The trenching and channel sampling and the 100s and 100s of soil and rock chip samples, resulting in a world-class comprehensive database model of their tenements is coming at a bargain-basement cost … if this was to be done in Australia, the costs would have been prohibitive for a minor player like ARE.


2. TORRENS

ARE spends nothing!!! Straits Resources must spend $7m within 5 years for a 70% interest.


3. KROOMBIT

ARE is currently awaiting EPA approval in May for the stage 2 drilling (250 rc holes diamond core holes) in a program conducted to JORC standards … Ok … so this is where ARE is going to be doing its major spend.


So ARE effectively have $21m to fund the above 3 plays
Ie Cash on Hand ($11m) + 10M HGO shares ($3m) + Straits Drilling ($7m) = $21m
Pretty good value for a company with a market cap of $35m!!!