sp, what to expect?, page-5

Martabe 7c
PH 50c
toro 1c

fair value is probably around 58c

based on citigroup calculations


Operations $ c/share

Sepon Gold 21 1
Sepon Copper 1323 42
PH 1566 50
Golden Grove 224 7
Martabe 231 7
Century 1840 59
Rosebury 221 7
Dugald River 157 5
Avebury 200 6
Apex Minerals 3 0
Minotaur Exploration 1 0
Royalco 2 0
Toro 25 1
Nyrstar Holdings 32 1

Total operations 5848 191

Cash 405 13
Debt (1128) (36)
Corporate & 'other (248) (8)

Net Total 4877 160