I have been investigating this stock and think its well undervalued since the rise in price of Allegiance mining (AGM). It has a market cap of 10 mill at its current price of 7.9 cents. However according to the substantial shareholder shareholding notice on 12/1/06 they look to be holding 24,494,022 shares in AGM. This would amount to $18,370,516. The holding was shown on the half year accounts to be $10,439,997. This was in December 2006 when AGM was sitting at around 46-50 cents. The share as shown a small corresponding increase in relation to the rise in AGM.