Ann: Q Copper IPO Deferred , page-15

CFE value (i know this has been done before!!!)

Cash - 50 mill
MCC owing - 80 mill
Lady Annie - 100 mill (absolute min - probably 150 mill)
ASX holdings - 50 mill ( very conserative including.....cov,tgf,nip,dmm and others)

This equals $280 million (current market cap @ 0.45 = $280 mill)

All these below must be worth nothing...........

martix (leichardt) - ??
Sappes Gold - ??
Australis - ??
Marampa - ??
Pinnacle - ??
Plus various other investments


Thanks to all who have sold out in the 40's - it is only a matter of time before this one is worked out.