While I understand that it is premature to have a definitive valuation at this point, I know that many of us here have always voiced our opinions that we are undervalued. I am in this camp although I still struggle with my valuation calculations/assuptions.

At this point and correct my if I am wrong, the only definative facts that we can hang our hats on are E1's 43-101 (2.3Bn CDN) and our cash on hand (40Mn).

Again, as many here have eluded to, we have been provided with enough information to believe that we have a mine in the making.

Hypothetically, if the results stop now (which we all know they will not) is E1 worthless? No more JBL discoveries by anybody else including NOT and E1 dies on the vine? Again, this is hypothetical and is not likely to happen.

Therefore, presumably, we can all assume that much more will be discovered and one day E1 as part of the total package will either be put into production by us or sold. Let's assume sold.

So, how do you value E1 today based on the preceeding assumptions? What percentage of in-situ is the right number? As many of you know, I am a numbers guy and have historically thrown out my valuation caculations for all to see.

Interested to hear you valuations and rationizations.

Cheers,

Milsy1