yes gutumike its a tough call, the upside here is really big if...

yes gutumike its a tough call, the upside here is really big if the geological model is right, that is repeating leatherjack lodes of good grade and they can find them cheaply enough and dont have to blow all the profits developing towards them.

I should say that the geologist in charge of this is very talented and if anyone can deliver on exploration its him.

so its pretty well an advanced exploration play as far as I am concerned, and like all advanced exploration plays you can make huge profits given the low market cap. They do in fact have a substantial inferred resource at Wattle Gully which is the real wildcat, but as I said before they have to risk a lot of capital if they want to develop it because the have to "open the reef" up to prove the resource is payable. In addition the history of the old Wattle Gully mine was that 10% of the stone gave 50% of the metal . In fact something like 20% of stoping was unpayable but the bonanza delivered in spades. It could well be those spur reefs that failed to deliver grade intially might end up delivering 8gpt if they kept stoping. Such is life in these reef systems


so thats the call, no one knows, if you don't like the risk associated with the deal you get out. I believe the upside from here in 3 years is 10 to 15 times if everything goes right.