Part of the announcement from 13 August 2009, the 3rd page...

Part of the announcement from 13 August 2009, the 3rd page comments on gold and net cashflow.

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Gold Production

Gilded Rose

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"The Gilded Rose net operating cashflow is anticipated to be approximately $15 million based on a gold price of AUD$1,000 per ounce, with the cost of production estimated at $400 per ounce."

Mt Freda Gold Mine and Plant

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"The current Mt Freda Infrastructure, excluding planned upgrades to facilities, is anticipated to provide a net operating cash flow of $20 million per annum, based on a gold price of AUD$1,000 per ounce and operational costs of AUD$500 per ounce"

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Yes we got White Range cheap, its taken up alot of time and caused some delays but it will pay off over the coming years.

Take that into account, other corporate activity, a better understanding of our prospects and net cash flow of $35 million (not taking into account an increased gold price).

Bye, bye to our current market cap around $50 million.