gold production at $90 an ounce ..., page-23

"TRY will be at least $2.50 by the time the first gold is poured at Casposo. Who knows what the gold price may be by then..."

My comments:

Just as well you added "at least." I know of an investor who is in TRY at over $3.00.

Even $2.50 does not reflect anything like the true current value of TRY. At $2.50 we'll be looking at a low cost, unhedged producer of most likely well in excess of 100,000 ounces of gold per year with a share price below what it was in March 2004! That just does not make sense.

I think you are using the wrong reference point to suggest $2.50 - the reference point being the recent irrationally low market panic share prices of gold producers in relation to the gold price.

I can easily see TRY being well in excess of $10.00 a share based on the number of shares TRY has on issue, and increasing successful low cost gold production in a rising gold price environment.

Now throw in some additional exploration success at Casposo and elsewhere into the mix in an environment where gold shares become the flavour of the months on the ASX, the must have and go to investments.

Now think about what will happen as this gold boom develops and we get irrationally high market greed share prices of gold producers in relation to the gold price.