Hi BigbickieWhile the float price is of interest, I am more...

Hi Bigbickie

While the float price is of interest, I am more focused on the BFS and Kapulo JORC information which is due between now and March (more likely in March to support the IPO float).

If my homework is correct which is based on data extracted from the Annual Report, the October issue of Paydirt and feedback from the a number of other sources, I can easily see SP (post consolidation) being around $4.00 in 2012 when Kapulo comes into production. My calculations are based on a number of assumptions ie Dikulishi will operate for 5 years and the copper in the ground having a value of some $1b. Now my calculations are very rough and will remain so until the BFS and estimates are known for a combined Kapulo reserves (Shaba has 210k Cu and 2.4moz Silver but no data on Safari North or South). Dikulishi is also likely to surprise with more copper discoveries as is MWE's 32% holding in ORX.

MWE has already made an excellent contribution to the value of my Superannuation portfolio and unless there is a GFC2 ( I do see an increasing probability) I do expect to see a better quality of red wine being consumed on a more regular basis.

The above analysis should not be accepted on face value and HC readers are encouraged to DYOR.

Cheers