some truths, page-8

Novac, your splitting hairs a bit. Firstly I never quoted EV, I quoted company value, so that includes cash.

Secondly, it was in response to people quoting the company having 21m shares. Which it does not.

Fully diluted, they have close to 54.2m shares, and at 46c that is a cap of $25m. At 50c (when I called the top, which was spot on), they had a cap of $27.1m.

Close enough considering I worked this out (and posted with 5 minutes of it running).

You can take the cash away if you like, but the drill holes you talk about are going to drain cash fairly quickly.

I stand by my posts today. 30c is cheap, 50c was expensive. Seemed the market agreed.

If you think this is worth more than $27m market cap (company value) for one drill hole of 2%, then good luck to you.