toyota punters in puntland, page-28

re: punters in puntland ? drifterman,

Sounds crazy I know...

But you have to think outside the square on this one. Range could be and probably will be free carried by JV's / Farm-in partners.

Here are some questions I asked when trying to value RRS in a couple of years time.

How much oil is there?
How much uranium is there?
How much Tin is there?
How much Iron Ore is there?
How much ??? is there?

Oil: 1-2 Billion barrels
Uraium: 16k t @ 0.11%
Iron Ore: 385t @ 38%

The above figures are from drills / exploration done pre-1992.

When you answer the following questions you get...

Oil = $40Billion @ $40 USD bbo
Uranium = $1 Billion
Other = $1 Billion

mininum = $42billion

Range has 50.1% = 21.4 Billion
Range takes average of 15% per project
So you get $3.2B USD...

Remember its ALL the minerals over 212,000 sqkm.

And I havent even counted Peru!!!!