Have been reading some info from the company website trying to...

Have been reading some info from the company website trying to attribute some idea of value to the Sabodala resource. Would be greatful for others critique of the following assumptions/observations

1. Euroz report suggests cost of extracting gold at 200USD per oz, this gives profit of 350 USD per oz at current gold prices. Assume AUD at 75c US, gives 470 AUD per oz.

2. Each 100K oz gold gives revenue of 47M AUD(470X100,000).

3. Euroz report suggests a plant extracting 160-180K oz per annum.ie revenues of 75-84M per annum.At present this equates to 40cps (Assuming approx 200M shares on issue).

4. At present a 1.26 Moz reserve would give a mine life of a little under 10 years.

5 BUT, the MDL website suggests a plant capable of producing 2MILLION TONS per ANNUM (Is this correct!!!!!,perhaps some gold investors could comment on the validity of this).
This would equate to a revenue of 940M per annum.
This would eqate to a revenue of $8.00 ps per annum.

6 If the resource you had was 1.26 Million Ounces, why would you build a plant capable of producing 2 Million Ounces per Annum.

7 If the resource you had was 5X,10X,100X1.26 Million Ounces.This would justify building a plant capable of producing 2Million Ounces per Annum.

8 I would suggest that either the info on MDL website is incorrect, or perhaps, just perhaps MDL are sitting on a HUGE resource.

Nothing in the assumptions/calculations I have made is not in the public domain. I have been over the maths a few times. I would be greatful if others could verify the assumptons and calculations.

Happy to end up with egg on my face, but cant help thinking its gold in the bank

PS I hold MDL