gdo vs igr , page-19

Steve

I would expect GDO to move to the 50s within the next few days, couple of weeks. Once the quartlry and Pre Feas for Ventersburg is out than we will see a bigger push towards 60 and 70 ST is my guess.

The market occasionally throws up an opportunity where one can clearly see a very valuable asset is valued at zero. Ventersburg is that asset. Its not only that it has a very nice size meaasured and indicated resource of over 2.4 million and growing but more importnantly that grades and estimated cahs costs suggest once off the ground it will creata a bigger npv/nav than modder east. As Modder East will prodice enough cash to fiance this through cash flow its NPV will be even higher

Companies trade at 200-400 million with projects like Ventersburg at pre feas stage