Ubid,RSG has elected to value the indicated resources of 584...

Ubid,
RSG has elected to value the indicated resources of 584 million tonnes at 2% insitu and the 384 million tonnes at 1% in situ, achieving a total value of $273 million.

Perhaps someone more knowledgeable here could step me through how those rates actually convert in to $273 million.

RSG has obviously been required to imply a valuation now for the purposes of evaluating the fairness of the Palmer transaction.

Obviously the final three holes driilled have yet to be evaluated.

Additionally you would think not a lot of drilling would be required to increase the 374 million tonnes from 1% to 2% , effectively doubling the implied value of those tonnes.
Therefore with some more drilling the value of the known tonnes should increase significantly.

In short Ubid i think we need to see more drilling before we can determine the real value of ARH shares, excluding the nickel and uranium.