Fair post, except for the last sentence. 'Be realistic' would...

Fair post, except for the last sentence.

'Be realistic' would have to be one of the most overused and subjective expressions doing the rounds. What one considers to be reality could be entirely different to how another person perceives reality. There is enough evidence out there (joint ventures, outright sale of ore deposits, improving commodity prices & appetite for risk, etc) for one to hold the very realistic view that it is highly probable that a deal will be made for Maronan. I wouldn't call that an optimistic view. If you go through all the undeveloped, but economical ore deposits in Australia, I think you will find that Maronan ranks right up there on a NPV basis. So, again, it would 'be realistic' to hold the view that it will be JV or sold. $100m or 51-52c for Maronan would be chump change for a large miner or the commodity hungry Chinese.

IMO, the optimistic view would be that we discover yet another ore deposit (hopefully a big zinc deposit at LH) & the stock runs to $1. They raise $10m at $1, drill out Maronan & double the resource - putting the project closer to a NPV of $1billion. I suspect (& this is entirely my view) that Rob would favour this option. It could explain why he seems in no hurry to flog Maronan off, especially on average terms. I guess we should thank him for that, although it is a real test of patience at times. As a LT holder, I expect my patience to be handsomely rewarded.