bly the 610 EV you refer to is the company market cap minus the...

bly the 610 EV you refer to is the company market cap minus the cash position (755 - 145). Not the companys valuation of itself

with regards to the tpa calculations you provided, its best to check the presentation released from the 19/6/08, each years production is broken down year by year for each project

I agree that they will need to substantially increase reserves especially at abydos and perhaps the some of the rydley valuations were slightly overcooked. The upgraded target of 1.8-2.2 bill tonnes is a significant positive though