Bubby another way of viewing an investment is: 1. what is the...

Bubby

another way of viewing an investment is:

1. what is the downside ($)
2. what is the upside ($)

assign a probability to each

and then make a decision to acquire (or sell) if Prob ($)_Upside > whatever your hurdle rate is ......

essentially - what I have described is "an option"........

also (essentially) this is what MCR "is" ......

the fact that management have added to the resource base - means the "timeline" isn't 2-3 years (its like 6-8 yrs).......and (potentially) the "strike" is "lower" if they can demonstarate Durkin can make money (I would est opex in the $3-3.50A/ Lb range)....

just another way of looking at Mincor !

rgds
V_H