Ann: Initial Director's Interest Notice, page-8

Before the recapitisation at 4 cps and doubling of SOI, the SP was about 16 cents, IF the BOD can deliver a solid path to financing the Nifty restart, 8 cents is a walk in the park and IF all the 6 cent oppies are exercised that is an extra $25m to the kitty, if we sell the gas turbines that are surplus to our needs for a few years that gives us another $30m, then we may be on a solid path to realise the Nifty NPV of $477m based on current Cu price and FX.

Not bad for a company with a market cap of $36m today with a MRE containing 1,000,000 tonne of Cu metal.


GLTAH