yeah, and lets not forget citic in the neighbourhood as well,...

yeah, and lets not forget citic in the neighbourhood as well, with a 2 bt deposit.

See page 10 of todays annc.

So, the likehood of there being a 3rd deposit is quite good IMO.

For all those who did pay higher prices, and want to hold, remind yourself, what MC you payed, and forget what short term sentiment the SP does.

35 million shares x purchase price.

SP is sentiment driven, quite different to actual value.

The market could also value it on an FDL spec basis, in which, we could see further rallying. It will simply need to clear the T+1's, usual story.

ARH is valued by the same market at 246 mill, at its stage of exploration/production. And a lot further to go.

So what's EPS worth?

50c 17.5 mill?
70c 24.5 mill?
1.00 35 mill?

Surely it must be worth a buck, 35 mill standing next to 246 mill, with the difference being some drilling.

(Recall that Miner makers went from 14 cents to 25 cents on three drill holes which established more than a magnetic signiture but similar drills to Grange.)

So we're not talking about a full drill program to get to jorc to really equal with peer. Then that would justify 246.

But all we are talking about to justify a mc of 35 mill, 1 buck, is put the first half dozen holes and provide similar magnetite mineralisation.

Pending drilling, with FDL in mind, What will the market leave it there for?


cheers