grizzly waiting to maul, page-16

re: grizzly waiting to maul - oly http://www.compassnl.com.au/news_room/_announcements/2005%20_Annual_General_Meeting_Slide_Presentation.pdf

This is slide presentation used at AGM and also appears on website. U can decuce figures from this as I have. Look at oxides project est production and est revenues 86 mill pa for > 50 mill pa operating surplus at L/T projected metal prices.

If u use current metal prices that "operating surplus" becomes nigh on NET EARNINGS for mine. and IFFF we get any share dilution, even at say 100 mill shares fully diluted (being generous cos dont think they need to or would want to for oxides project), thats > 50 cps (being conservative)

That means at current levels we would be sitting at around PER 1 (not allowing for capex repayment which is less than one year IFFF it goes the way of debt).

Andt his is for cited 6-10 years oxides....BREAD AND BUTTER and both metallurgy and energy concerns were satisfactorily addressed for mine?

No allowance for sulphides.

No allowance for uranium

No allowance for gold

No allowance for elephant country exploration.

All u have to do is open yr eyes and use yr calculator. My PER 6 places it at 3 bucks CONSERVATIVELY at oxides production time. "course we may get PER 12 instead if market is rockin and oxides reserves move up a bit....but I like to take the depressed state as base case.

Of course they may go C-notes without near term dilution instead and then we r talking serious numbers if K-C kicks in as well .......just for the oxides ......and espesh if coming drill program increases the oxides reserves.

There r so many strings to this wonderful bow the mind boggles (mine at least). We have about 4 companies in one here and market doesnt yet know how to value it ...prob cos the brokers aint even set PA yet. Maybe there is a move to talk it down in the short slack time now to try and flush out our stock. Not mine ta. I still got the cleaver out and drooling.

What would be likely however, is once oxides start producing and market wakes up to fact we are sitting on a Mt Isa underneath with uranium added here, then reckon the increasing number of sharks will move in for the kill and would need a 5 buck bid to even get close.

So, who cares if price goes to 80 or to 40, once it is time there will be serious demand and no supply. I for one would be licking my lips at any stock appearing in low 50s like deltra suggests. More likely if in fact there is any for real, I for one would be surprised if we dont see an offmarket swap quickly whisking it off the table.

IMOOC