lets go, page-15

Haha allyoops - on my past performance there is only one thing certain about my predictions - I'm always, always wrong. For the past year, if I had just done exactly the opposite of what I believed .... well.

I'm not even sure what the initial sales target is.

Nevertheless, for the sake of the comedy hour, I'd go for s.p's over time of :-

if up udated projections come out shortly as expected:-
- 12.5 cents: end of Nov 08

if production this month, November, is 200 oz
- 10 cents:Christmas,
on upward price pressure based on reasonable results more than offset by desperate buggers (including a director or two) selling in order to buy the xmas presies.

once everyone is back from holiday, and with reliable production figures and a renewed/half decent communications effort by the company
- 15 cents by end of March 09
without really considering the dilutive effect of options renewal?

and once options have been renewed, end of April,
- 20 cents: April 09
= back to the float price (whereas in the pre crash environment this would have been 3 times greater - 60 cents).

and then, to go for the doctor, and with the USD collapsing mid-year 09, and the POG skyrocketing as a result, and on track (12 months late) for the OLD production forecast of 20,000 oz in 2010.
- 50 cents:August 09.

This guesses that by mid year, those cashed up banks and individuals will have unfrozen their thinking, and some will be well on the bargain hunting trial ...

50 cents would put the company about mid-range of the smaller producers in terms of market cap vs in-ground gold, assuming they prove up 50% more resource, and continue to project a 2010 year annual profit of 6.8 mill (equals a PE of about 8).

These guesses are based on undiluted - ie before new share issues and options redemption.

and - I am NOT putting more actual money where my mouth is at this stage.