Ann: Takeover - extension of offer period, page-14

Gold is at US$2,254 - TIE are printing money at this price, they'll pay off the mine in 6 months and the rest will be accumulated pure profits from then on, at about US$1,250 an ounce profit above AISC, and more.

At 170,000 ounces per year, that is revenue of almost US$400 million, and profit after AISC of about US$220 million (AUD$340 million). Anybody here for a special dividend in the not too distant future?

Zhaojin are a comedy show, acting like the Monty Python of mining, either that or they live on another planet, of their directors are holed up in an opium den somewhere and don't know what's going on. What a joke this 58 cent offer is, and it gets more absurd every day with the booming price of gold. Their CEO and MD must be the Basil Fawlty of mining.

Gw