let's see H1 3.7M revenue 1.7M profitQ3 revenue...

let's see H1 3.7M revenue 1.7M profit
Q3 revenue 6.1M....estimated profit based off H1 margin = 2.8M....total around 4.5M NPAT for Q1,2,3

on a full year basis(no Q4 added) with about 501M shares on issue is about 0.89c EPS and 15x PE is 13.5c

hang on...that's the year high!!!!
so let's add in Q4.

(H1 did 1.85M op cashflow Positive and and Q1 did 2.9M op cashflow postive)

Now bearing in mind they say they produced 7,679 oz from 22,042 tonnesin Q3, and have 35,000 ores stockpiled- and they expect it all to be processed in June/July or Q4. so that's about 60% more...so we could expect aroudn 9.5-10M sales from production.

Now let's be a bit more conservative and estimate 40% GP% (under the last three qtr)...
so say 9M revenue and 40% GP = 3.6M +ve op cashflow
and 70% (ful, tax even though they have tax credits to offset) = 2.5M

giving final valuation of 2.5+ 4.5 =7M NPAT

on 501M shares that is EPS of 1.4c per share. On 15 PE that is 21c
growth rate is >50% Quater on quater so expect a large premium on price if FY08 forecasts are same....


so who is selling at 12.5c??? you have to be made don't you
I hold 500,000, and I won't be selling till post quaterly- and then I'm holding for the drilling results....as well as next quaterly...