bargain price at present, page-5

This is bloody great stuff. I have been waiting three years for this move. Even after $100 million is returned to shareholders there will be $125 million and a producing asset at White Dam. (Not sure how tax will affect these numbers).

When Ivanhoe Australia floated they raised about $110 million and used a great deal of this for drilling. This company has a current market cap of 1.4 billion and we are now in the same position as they were some years back.

Michael made a statement at the last AGM. "The more you drill, the more you find."

Looking forward to Hazel Creek results this drilling season.