annualised pe of 4 - worth a look!, page-19

Mick - no you're probably right - but at some stage i will right investor relations and ask the question about a divi just to keep them on their toes.

I get frustrated with many small caps where spend everything they earn - in Roc's case I think thats what is holding them back (or has until now) - they punch out roughly 100 million free cash flow before exp/dev costs - how hard is it to flick a bit the shareholders way.

SP thanks - re Balai the first stage is fully funded - the next question is where is the funding for the second development stage coming from - nice to think most of it would be project financing to minimise Roc's risk.

But we'll have to wait to find out - still I think a run to the 40's is starting to look good provided the meltdown in Europe doesn't occur.