focus valuation part 2 - acquisition, page-21

Reiner, wasn't the last quarter highly affected by flooding? My understanding was a roughly 1050 an ounce cost.

Vincecheng, I'd hazard a guess to say that one of the reasons that we have not heard anything about TI yet is due to management wanting to ensure that CRE shareholders are happy with the deal. This TO did not come about yesterday, the fact that we loaned 13 million dollars a while ago says that there was a big picture plan prior to the cap raising.

Even if CRE costs are 1200 an ounce we would still be making 25 million a year. That's a three year payback period with a mill that probably doesnt need all that much refining for free. Bargain of the century. Note in the presentation we would now be 39% undervalued. Focus pre acquisition was right on the average. We are acquiring a grossly undervalued resource. Flog off the uranium and it's looking even sweeter.

TI results, Coolgardie drilling, Nepean, open pits and mount ramp up...game on. The big question is what will come first. New mill, TI, Nepean spin off or consolidation?

Also, if we were aiming for 230,000 ounces in 2013 before...does that mean we're looking at 330,000 ounces now? Put a margin of 500 an ounce on that and you're looking at 165 million a year profit, or 3.75 cents per share. Consolidate 10:1 and you're looking at 37.5 cents per share if you're on of those people who doesn't understand decimals, market caps and general valuations!!!