now..this is big, page-30

Couple of things to consider. SRM could not have any funds on the register because we are yet to have our first resource number ( expected early new year ) I think that is when the pommie funds will turn up because they are big backers of Medusa and Middlemas. Medusa raised about $30m in London quick smart. Most funds in Oz are not the target market IMO. This is when the register will change from smaller punters to funds. We saw this with PIR. The stock moved from 30c to $2 when they turned up and that is a lower grade play in Mali. The company is now capped at over $300m. SRM does the same thing and we will see $1 sometime next year. SRM would also be more likely to be in production quicker than PIR with zippo capex.

I think that number would include the FE. This is a DSO project. A Chinese smelter would eat this stuff for large margins. It's such a high grade, they would take it at port. 8g/t gold is worth about $300 in metal content per ton. Open cut mining costs in the Philippines might be around $50 per ton if I took at other general surface mining costs. Even allowing for a smelters cut and mining costs, SRM could make approx $150 p/t margins. Do your own numbers on any tonnage run rate you like and see what sort of earnings you come up with. Srm has 65% . Every 100,000 tons provides about $15m in profits for the mabilo project overall. If this producers any half decent mine rate, the company will just print money like the FED reserve. The drilling is also suggesting that the resource is bigger than expected, so mine life should also be good. porphryr potential is the wild card here as well. Please dyor, these are speculative numbers based on assumptions. I have just applied these numbers on the Eq gold rate I have seen in the Taylor's report and what is in the drill results. The costs are a rough guess, but its not rocket science. There are DSO projects getting under way with $20 margins in the Philippines, so SRM should have plenty of room to move with any metal price movements.