Ann: Definitive Feasibility Study Completed -Tuca, page-4

re: Ann: Definitive Feasibility Study Complet... Comments; Another box ticked, production less than a year away, targeting minimum production of 130,000 ounces and maximum of 180,000 ounces over the life of the mine, with expected constant production of 150,000ounces at costs of $618 an ounce should give the company a free cash flow of about $117.3m p/a (based on 150,000 ounces at $1400 price of gold).

Consider the current market capital is $480m will give a current P/E ratio of 4 (Gold producers usually have a P/E ratio of 12-20) so huge growth expected in the next year. Also consider the CAPEX can be paid back in 1 year.