new scheme independent report needed, page-2

Hi All.

Just a couple of other points.
Optiro has elected to value the Mineral Resources within the Mbalam Project,which are not included in Stage One or Stage Two,using comparable transactions and (Joint Venture Terms).

It looks to me that Optiro have used Iron Ore Prices upto August 2012 which their chart shows to have been around $100 per tonne.
Optiro have done a total price based on Iron Ore price from February 2008 when it was around $60 per tonne to August 2012 around $100 per tonne and the all time highs of around $180 per tonne in between.

An SDL Fair valuation price was shown as $1,601,634,000 or just over $1.6 Billion dollars,which I believe was $0.52 cents per share..That figure also included all the options being converted to fully paid shares.

Regards
Westcott.