anyone interested in, page-27

mps upgrades npv from prev 1.48 or so to now 2.60 .... most of that oxides only .....but leaves it wide open for further (of course).

Strange kinda valuation overall given their segment values cited for oxides are much higher .... hmmm ... think I'll stick to my 4 bucks oxides only PE 8 target Q1 07. And of course SFA (no, not spiv factor alert haha) for sulphides and zilch for uranium again. leave that for the next installment hey?

I note their "fully diluted" scenario takes us to 124 mill shares by 2009. Considering that would mean full funding for oxides, uranium and partial at least funding for sulphides, then guess we could probably wizz past Holy Grail straight toward the Golden Fleece without much pause.

And considering I have a 3 billion market cap (mid road) est in my sights within next 4-5 years, kinda implies a 25 buck share price by then ... whether whole or sum of parts equiv. Yep, a bit closer to my "reserve price" haha .... and u guys are quibbling about 10c lots at this stage.

Only thought is that MPS tend to be a bit conservative for mine. I prefer the Huntleys versions (still to be updated from 310 fair value last).

I know I know, some will still be asking where's the PER even when the opening day Bearmeat BBQ at Batchelor is being attended by Olympians.

All I can say is, start using a little grey matter and research thoroughly the postings of the past 12 months on the website at www.compassnl.com ..... consider these guys are well respected and conservative ....and apply to yr overall investment strategy in the coming likely super stagflationery period ahead, where, depending on what side of the resources fence u sit on, will determine what side of the wealth gap u will end up in. IMBOOC.

Dont forget to also take a squizz also to the Sep 04 Q report where some initial idea was given of what a very modest sulphides operation could be worth even on concentrates export basis.

But I wouldnt place too much thought at this stage on the 1 mill tpa over 15 years example cited cos IMO thats pretty stupid considering sulphides reserves will prob expand to around 200 mill years by time they are ready to focus on stage 3. U know, open pittable at 3.5+% Cu equivalent, primary production of Cu, Co and Pb with plenty of Ag Na some Zn etc. Guess u might say they are doing a bit of their own down-ramping of sulphides at this stage haha.

All in my opinion of course. But use what intelligence u have to work it out yourselves and dont get conned by them who may be jealous of yr precious Olympian holdings haha. All points on the Compass still pointing north for mine. Anyone who feels otherwise, welcome to state their case in this forum. I want to keep my own objectivity sharp.

Meantime, time to raid my piggybank again methinks.

IMBOOC