undervalued & underpromoted, page-3

Have to agree Stcokhunter, the market has failed to give NUP the rerating that i thought was well deserved, possibly the market will only show the love when the maiden JORC is released. If drilling starts in April i would think results in may/june and resource calculation probably in august.

It will be interesting to see the next drilling program thats designed, im guessing it will concentrate on stepping out east and south of Arganara which will extend the highest grade zones with enough ifilll to get it into atleast an Inferred JORC.

Arganara i can see now having outlined a solid 20 Sq Kms of highgrade Phosphate, each sq km at an average of 5m thickness of phosphate will deliever 9m tonnes which would total now about 180m tonnes.

Clearly the highgrade is open directly to the sout and east, if they can extend this zone just 1 km east and south would add another 9 sq km's or roughly 81m tonnes which would send NUP to a total around 260m tonnnes of highgrade which will be at a higher grade than what RUM is holding as half of RUMs inferred JORC or the western portionis clearly a lower grade. Arganara alone will level the field in term of tonnage with RUM and we havnt even talked about Arganara central or Limestone Bore.

If we then swing our focus on Limestone and Arganara central we can see a nice little section of higher grade between 10% - 30% Phosphate I see this area being a good 10km long and possibly 2 or 3km wide showing another section offering another 20 - 30 sq km's of good grade phosphate about the same size as Arganara. On top of this there is likely another amount double this again of a lower grade product.

Who knows what else is in the south which hasnt been drilled??? based on what is already outlined NUP will easily be sitting on a 500m Tonne resource at a very healthy grade plus the lower grade tonnage which is possibly equally as big.

In simple terms the tonnage will be a very large number that will have a very significant highgrade component. The JORC delivered this year will show whats going on.