"what the combined land holdings and permits etc. are...

"what the combined land holdings and permits etc. are independently valued at..." - very little i'd say. Its gold in the ground tha thas the value.and the Question is - how much more has to be spent to find out and were will this come from? Gather 4 mill won't go that far.

My main concen is the probable consolidation then the dilution effect of future cap raisings, particularly if the initial drill results are not spectacular as this appears to be what the market wants. What ever the SP is at drilling commencement it will plummet quickly on any initial mediocre results.

Guess this is what spec stocks are all about. The long termers do there dough and the newbies laugh all the way to the bank.