olympian - thoughts, page-2

The MF grades are commercial given ease and pending oxides infrsatructure

PDNs average grades are 1.3 for its Langer Heinrich flagship

ERAs grades are 1.7 for its Ranger production.

Anything over 1 lb / tonne when u have infrastructure existing is commercial.

PDN which has no infrastructure can work with 1.3 in mau mau land.

Mt Fitch is the first only. Nothing wrong with those grades. At 1.5 say, thats AUD 150 / tonne paydirt, equivalent to a 7 - 8 g/t equiv gold deposit at surface ...... and easier to process.

SIZE is next interest. Just remember CMR's CITED aims of producing 4 mill lbs pa. Thats 180 mill bucks pa gross revenues at TODAY's prices which prob have about a 30 mill buck pa opex at a guess, leaving 100 mill pa net after tax.

NEW plant considering common infrastructure with oxides is prob no more capex than oxides plant ......... simpler process, single product .....say another 40 mill max capex for a dedicated plant ........ prob ex year 1 oxides revenues.

My point, a NEW U plant next to the oxides plant cld be justified by ONE YEAR's production from Mt Fitch alone at the cited 4 mill lbs pa aims and STILL leave residual cash.

It dont take much grey matter to work out that ifff/ when a, say, 10 years resource is JORC identified from MF and other satellietes say, CMR would be EARNING something like 1.50 ps pa from oxides + U. I gotta feeling we are gonna come up with much more than 1 year's worth of U from our 8 separate glowing targets all in close proximity to oxides plant.

Iff / when CMR comes up with a JORC resource (hopefully by mid next year as aimed) of say, 5- 10 years initially to justify their production aims, prob by 2008/9 start considering EIS / approvals process etc, THEN stock would immediately warrant IMO a 500 mill buck opportuniustic takeover bid considering all the other nice things in the kitty. We will need sharp spears to ward off such attackers if realised, or die laughing all the way to the Med bank instead.

PDN - CMR - ERA production rates planned / actual are 2.6 - 4 - 10 at grades 1.3 - ??? - 1.7. Thats food for plenty of UPSIDE thought for mine.

IMVHO I think we will see CMR at 5 bucks sometime next year coming into / at JORC U resource definition and oxides start.

It cld prob justify that price alone on earnings drivers oxides only into early 2007.

I aint looking at 5 bucks to release my precious precious. 1331 is the ORM Holy Grail and I can see that at < P/E 10 by 2009 ............

..... and then we have sulphides to begin getting serious about.

One can only dream / best guess and consider the reward / risk equation in light of what some of us may perceive as coming pessimism in the global equity markets and consequent flight to cash and quality.

My own aspirations are with deflationery bear market wave in mind first.

But THEN the fun REALLY begins circa 2009. I expect CMR's market cap to be around 3 bill bucks by "maturity" around 2010. Im a mid term investor as u can see. Hopefully we might see a 20 cps initial divvie from y2007 increasing accordingly thereafter as well. Justifiable IMO.

IMBOOC