Hi Guys, This is my back of the envelope calcs for Cambodia GPR...

Hi Guys,

This is my back of the envelope calcs for Cambodia

	Column 1	Column 2	Column 3
0	GPR Note:	Cu	USD2.00/lb
1		*Opex	USD0.75/lb
2		Margin	USD1.25/lb
3	Pounds	57,200,000	USD 71M
4		85%	USD 60M
5	Multiple	4 = MC	USD240M
6	Capex	$ 80	USD M
7	* After gold recoveries

Pretty conservative - I think the net margin could in effect be higher with the increase in gold price and what they have recently come up with. Naturally they are looking at slowly building up to this volume. I think I read with the JORC out they would start production on a smaller scale within 6 months,

Spozzie