Ann: Anthill Mining and Treatment JV Signed , page-9

re: Ann: MKO: Anthill Mining and Treatment JV... plough

as far as mining .96 gram/t ore, then it is worth looking at ngf. ngf have a large mill (3.3 ton per annum), the open cut is 1 gm per tonne, which is supplemented with some high grade underground ore.

the quarterly gives cash costs, production costs, and total costs.

similar grade open cut is catalpa - where the grade is 1.17 gram per ton (small variations in grade, for a low grade deposit, make a big difference to profitability), and also a high capacity mill.

from the mko report, it seems that kmc will meet all costs (ie no risk to mko) - but these costs will be reimbursed, before splitting the spoils.

300,000 tonnes per annum, at .96 g/t is about 8800 recovered oz. after allowing for all costs, there might only be a $300 per oz margin - and kmc share of that is $1.5m per annum.

the mko shareprice went down 10% (to a historic low)on the news. the market cap of mko is a miserable $3.5m. considering that mko have a couple of million in the bank, and are not up for any of the costs - then that might be a safer option,

despite some exuberant posts on the announcement, there is nothing worth getting excited about