Ann: Letter to Shareholders - Update on Landbridg, page-16

re: Ann: Letter to Shareholders - Update on L... I think we will.

We are not making repeatable widgets. We are producing a finite resource from a finite area. The infrastructure will then one day be worthless.

IF we make $20m NPAT for next 20 years from the GSA, 42c would put us on a PE of just over 9.

Currently we are just over 6 (but yet to earn).

I just think holders should start thinking about WCLs value from a traditional method.