Ann: 2012 half year financial results announcemen, page-59

re: Ann: 2012 half year financial results ann... MX,
Doing a milking strategy on P Hill - ie.e mine till 2018 only, spend no money on exploration, a WACC of 10%, add in cash and SFR, gives a sp of about $9.60. NCM could make an offer of 30% premium to the current share price and still be under the EV of the stock. I have not allowed anything for C or Capaquire. The stock is certainly in danger of being taken over by a predator.

HT1