>>No some are reading it correctly. I was in this one at 20c and...

>>No some are reading it correctly. I was in this one at 20c and have made considerable profits from it.

It is a looking GREAT story, but I think a few of you are just getting a tad ahead of yourselves.

This is just an agreement for a feasibility study which they plan to complete in the middle of 2011. Hopefully this is completed on time. There are no guarantees that this will eventuate yet.

This end of the market is littered with stocks with these kind of agreements which linger on and often never come to fruition.

I am not trying to downramp at all, that is not my game, but I do get a bit concerned when people start pulling out potential profit figures (which may be two years or more away) and saying this is the "next blue chip" because it will be earning 50mill+ a year.

There is alot of water to go under the bridge here, it could well end up being a great stock but I wouldn't place too much on it just yet and don't expect it all to happen over night.

That is all I am saying. Just trying to bring some balance to the discussion.<<

I agree somewhat... however should a company whom is positioned itself to make over 60 Mil pa in a year not be given a forward PE of at least 5... Not to mention the rest of the world- plus the Mil+ tonne of slag to process in US. Plus the advancements in pulling the Alu out of the slag worth a forward tiny tiny PE.

Anyway for my money they will be earning 60mil pa by 2012. I will give a current value on this of PE=5 thus 300 Mil MC on this deal and Aussie alone. Is that too much value to apply- this is approx $3 id fair value for now in my book. $5 for now is not- we are not getting ahead of ourselves at $1.50.

Agree to disagree- and we both held all year siince 20c.

Cheers Jay