WIth the surge lately in zinc and silver spot prices, the...

WIth the surge lately in zinc and silver spot prices, the updated resource value of Mehidiabad based on current spot price is as follows:

Zinc

10.6m tonnes of recovered zinc (only measured and indicated) x $3,740 per tonne ($1.70 per pound) = $43.4 billion dollars in revenue

Lead

3.1m tonnes of recovered lead(only measured and indicated) x $1,254 per tonne ($0.57 per pound) = $3.9 billion in revenue


Silver

123million ounces of recovered silver (only measured and indicated) x $14.51 per ounce = $1.8 billion in revenue

Total estimated revenue = $49.1 billion dollars

Please note that the above figures do not include any inferred resources which will most likely be upgraded to indicated or measured between now and production or any other increases in the resource size.

The resource estimates were taken from the UCL ann dated 4th April 06.

Theres a possibility of course that the current spot price would not equate to the long term price but the above figures give you an idea how much value is contained within Mehdiabad.

Bring on the feasibilty report, which should be out anytime now.

The longer this whole saga between Iran and the US continues the more shares and oppies I will be able to accumulate. This is the best thing Bush has done since he began his term in office.

Cheers