big bell north - zone width, page-4

pete, all the directors were on leave last week I am told. I did get a response straight away.

I'm sure all is fine, they're just making sure the directors are around to clear the comms.

yes ALY is cheap at the moment, but the whole market has been shaky. TLM dropped to 40c from 1.20 quite quickly too, but now back up to 68c when SFR got their next discovery.

patience here will be rewarded, and if volatility up this week with the US reporting season we could drift a little lower still, but Hermes has loads of gold with update due in a few weeks, and Wilgeena coming on line soon to fund drilling etc, and the wild card could be a copper find with a bit of luck...

But with gold alone, ALY is worth a lot more than current levels. even with conservative estimates of 200,000 ounces and $100 pure profit per ounce its worth 20c a share. Factor in a price to earnings ration etc, and/or double or triple the profit per ounce and the share price gets back up to 60c quick smart. of course none of this is understood untl a feasibility study etc is done, but its a reasonable estimate profit level per ounce.

I'm happy to hold at these levels, because a little bit of confidence coming back into the market and continued drilling upgrades from Hermes etc could see this double, or at least 50% gains back up to round 50c.