just look at TAS and Vulcan
capped at 20 + million
AXT joint venture with xstrata for up to 16 million cash
cash and shares worth 5 million
IF we guess and EV of 20 million when they drill, not out of the ordinary
then a 25 million cap is possible here
25/88 million is 28 c
i guess we will have to wait for drilling but looks like it very cheap here
