Ann: Exploration Update, page-7

cheapa, your name suggests you should be able to identify a bargain.
I understand your pessimism but surely you recognize that at $2.1m this company is drastically undervalued.
With $500k in the bank that's an EV on $1.6m!! you have to be joking?

Our 20% holding in JV with Iluka must be worth atleast a couple of mill.
Whats MOX worth if any of the three holes they drill next week hit decent grade Cu & Au ?

Then we have ..
Mt Ringwood 100% with is looking like a very exciting gold prospect
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10% holding in Western Gawler Craton which Western Area's are must be very excited about given they have fasttracked exploration of this tenement and are taking every step to ensure they retain their 90% stake.. What's MOX worth if they hit high grade Cu and Ni?? Western Area's has a MC over $500m, they wouldn't be playing around with a small deposit.. The Western Gawler Craton project has the potential to be huge
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We also have a stake in Melton with MEU who are planning on drilling this quarter.