latest crs anouncement, page-3

Having said the above, let me CRS's second quarter was bad as a result of treatment plant problems --- as the company's stated, these problems have since been corrected.

My quoted net cash flow figure of $30M was partly based on the performance of this bad second quarter. Approx $40M would be a figure that's more representative of the free cash flow generating ability of CRS over the full year.

This changes my quoted free cash flow multiple from 10x to aprox 7/8 x ---- which is reasonably undemanding... considering the history of the Central Norseman region.

Not dirt cheap --- but not expensive either, considering we're in a gold bull market.