Ann: Independent Research Report , page-2

Opinion from Peter Strachan

Report Mutiny shapes up well against an ASX
listed, gold developer peer group of
companies. Relatively, Mutiny offers
higher grades, good access to existing
processing and other infrastructure
while not having to carry significant
political risk associates with China or
West Africa. At the same time, the
stock looks relatively inexpensive on
the basis of existing Resources per
ounce of current market capitalisation.
Once final costing and funding are in
place, Strachan Corporate sees room
for significant market re-rating, which
would lift the company to a market
value of around $150 million, ahead of
first production in mid 2012.
Peter Strachan.


That is more than triple what it is worth now. Worth reading.

Hera