dividend declared, page-2

71 mill revenue for H2 '04 is a good figure for the market to digest - and likely to improve in H1 '05 as efficiencies arise from the paste back fill, and as CBH retains its exposure to the upside in zinc prices in particular. The 0.5c div. is a solid gesture of faith in the company's future as well a nice bit of cash for shareholders - I will be particularly keen to see what addtions to reserves will emanate from the drilling programes at Endevaour and Broken Hill.

Also, I'm not sure to what extent the Sulphur Springs deposit is written into the price at the moment - 3.3 million tonnes grading 0.6% Cu and 10% Zn. is proabably a viable resource in its own right.

It will be interesting to see how the market digests the above, and more over the next few days....IMO CBH is clearly a well run company with some genuine blue sky beginning to appear....