value of ent, page-6

Hello Boondog, also Jimized who said the same thing but not quite so tactfully.

My problem is that I an a Fellow of the Aus IMM and and am a "Qualified Person" in my area of expertise (Diamonds). I am not a "Qualified Person" when it comes to valueing projects because it is not my area of expertese therefore I must make sure that my comments are not taken as those of an expert. Notwithstanding my succesful commercial track record.

When I looked at the ENT projects I looked at the geology, the exploration results, the proximity of nearby mines, the reported work done on the ENT ground and, based on this, I estimated the chance of commercial success. This is entirely subjective, but it is based on 40 years field experience at the coal face. I did not give the detail because I am paid large dollars a day for such information. The figures I gave are my best estimates. I am not a consultant to ENT but I bought 105,000 shares at an average of around 45 cents and have not sold these. This is about 2% of my portfolio and it is not of material interest to me whether it is succesful or not, but it is of material interest to others, that is why I did the calculation.

I repeat though, I am not qualified to evaluate non diamond projects and all of the above information is at your own risk.