while he fiddled rome burned, page-2

Ville,

I am sure the extra spend would look good on the spreadsheets, but with no geology background my concern would be that increasing the spend 100% might only improve the pace of discovery 20%. These types of activity seem to me to have an optimal pace.

As for being half the pre consolidation sp, that's a stretch to account for the consolidation and not for the 12/120 cent capital return. To use the brief euphoric peak last year as benchmark is also a bit unfair.

IMHO the sp I bought into last march might be more realistic, about 140, or $12.80 accounting for the CR and The consolidation.

Of course if I am comparing with the likes of PNA, I must include the two 30 cent dividends since, so $12.20. So to me and many others a fall from $12.20 to approx $10 doesn't look anything like a halving. We need to remember peers such as PNA are also well down on last years highs.

Me, well I am a little disappointed in the generally lackluster state of the resources segment, but as a long term holder of stocks I am more concerned with the underlying performance, and on that score for my OZL has neither excelled, nor disappointed. Several of my other LT holdings have disappointed big time, in the past year or so.

EL