valuation, page-7

Also fwiw...the investments that belong to CUO have a market value of approximately $80-$90m by my calculations. Therefore, the rest of the business including unlisted investments and Lady Loretta (25% of high grade zinc deposit) is apparently worth only $130-$140m. That is for a low cost mine that is already producing 19,000tpa Cu Cathode at a cash margin of around $108m pa with an 8+years mine life...forget the extra 11,000tpa production from 2009 onwards ... go figure!

I bought another 21k at the close today.

regards
DF