interesting buying on the options a few weeks back alsosomeone...

interesting buying on the options a few weeks back also

someone bought a bag of them at 4c

excercise of 20c , puts the shares at 24c

shares were same today , 16c

so roughly paying an 8c premium

$3.5m MC is very cheap , especially with the $2mill cash as you say

EV of $1.5m give or take

if you look at the projects they have then take your pick at a multiple from current levels as a rough target

as John said , a possible monster IOCG system

only need to have a look at Prominent Hill

also have potential for REE exposure in other leases

don't think its possible to trade this one

more of a get your fill and wait for news stock (like VGM now CNL)

not sure if we'll have to sit on this one too much longer though

management confirmed results were due out early in 2011 - from that I would invisage some time in Q1

expect results will be about frazer drilling and then followed by the Ooratippra report

think I may wait in que for some of the NTRO's as a punt ;)