why why why, page-14

Could get interesting with their MEU investment too now...36M shares in MEU I think, and MEU just announced today that drilling has commenced at its Nevada project (JVed with Ramelius).

Very cheap company at moment given it has plenty cash and the MEU shares...market cap only a slight premium to asset backing and of course it has its own projects.

Agree with most of the comments here about the decision to JV the Punt Hill project...way too costly for a junior to explore particularly given the results to date. Obviously had the results been higher grade (even at that depth) would be sensible to try and go it alone, but at these grades, need a big partner with deep pockets. Antofagasta also a very good company to JV with.

Cdchi1