In a 'normal' world (which it ain't at present) and assuming...

In a 'normal' world (which it ain't at present) and assuming they can readily extend the resource base (and hence mine life) one could easily argue a case for a much higher price....multiples of the current price.....that's all I'll say.

The short mine life is an issue from a valuation perspective, no question but on the flip side the QOL team looks like bringing Australia's first moly mine into life on time and within budget - no mean feat in today's environment and no thanks to the Qld Government.

Reality is something is worth what someone is prepared to pay for it.....YET 16c a share generates a market cap less than the cost of the WC plant....now that is ODD!

Then there's the issue of what is an appropriate valuation for the Mt Cannindah project!!