bullabulling and gryphon, page-4

Good point master, those cash costs need to come down. The BAB directors are aware of this and have spoken of it, especially in light of the scoping study. They will bring them down, because there is a lot of room-to-move in the scoping study (which inflated them somewhat in order to be on the conservative side).

It is probably true that given the high wage and fuel and services environment in Australia, that cash costs are always going to be significantly higher for Aussie miners. It sure makes KRM's cash cost of about A$180 look good, no wonder they can afford to pay a dividend.

One interesting observation, is the 500% difference in share price between GRY and AZX (BAB), though BAB has a 33% greater resource (at the moment). Resource analytics continually change though, as we know, and there are many other factors in GRY's favour with regard to the share price, and resources and investments.

Anyway, what it highlights more than anything, is BAB's potential. After listing, and especially when the AZX shares are merged, this price differential may steadily close.

Looking at the market today though, we may be starting to see the beginnings of more substantial interest in BAB (via AZX), because there appears to be an increase in buyers and volume on market. As I look now, there are 4 times as many buyers as sellers.

The transition will be very interesting to watch, firstly from GGG to BAB, then BAB trading prior to AZX merger, then the complete BAB with AZX merged in, and then the post month trading after this.

Gw

Even the losers get lucky sometimes.
(Tom Petty)