broker coverage, page-27

Dasa,
Good post.

I would add a fourth item
4) confirmation of Cambodia Gold and/or P Hill u/g

All the analysts are doing their sp valuation on a 10 year mine life (current life of P Hill) with no terminal value. SP appreciation occurs when the company can show a growth pipeline to replace the current resources. (Remember the hard hats from OXR days?) Joint Ventures, new mines, value accretive acquisitions, significant exploration results all contribute to allowing the analysts to use a terminal value. This terminal value adds about $1 to the value of the shares.

Dasa's comments re dividend and share buyback, although helpful to the sp does not carry as much weight as the terminal value.

P.S. I am not a broker analyst, I have just had some exposure and training in the use of the spreadsheets and how to read them.

P.S.S. Will I purchase some more? I vowed never to throw good money after bad, but with the textbook commissioning of P Hill. (It has been an excellent result, and credit where credit is due, management has done a good job here) and the short term sp weakness, I am slowly changing my thinking here.

HT1