gold price $a850; costs $a450

BTV is looking better by the day with gold prices last night equivalent to $A850 /oz and forecast costs at the Deflector Project of $A450. A cash surplus of $A400/oz would mean that the 37,000 oz per annum would generate $14.8 million per annum. Related to 700 million shares, this would be about 2.1 cents per share. So at 7.7 cents per share, BTV is selling at 3.6 times cash flow. And we have a uranium spin off to come in the next few weeks ,with uranium known to exist at one of the prospects, Harts range. It might well be found on some of the other uranium properties as well; BTV has pegged very well regarded areas.