Just an excellent and well thought out argument. Several million tons of very rich ore is worth a lot more than it was 10 years ago.

You've made me go back and look at some of my comments and guess I should be eating some crow because I do believe my valuations didn't take into full account your summary.

As an ultra conservative it's not that easy to make me up valuations but you've done it.  Let's just see what the market does as it's not noted for conservative behaviour.

Next thing you know you'll have me joining the crowd accepting valuations of $20 or $30 which I still find hard to swallow. Not impossible just hard.