market cap, shareprice etc, page-52

Murry,

Here's the kicker IMO. RMS have a cash cost of $800 an ounce all up for Mt Magnet, which is quite high. AAG haven't released the results of their mining studies yet, but I suspect they will be less than this. If the gap between RMS Mt Magnet cash costs and AAG's costs is significant RMS could justify paying an even higher price (than 50 cents) for AAG as it will deliver significant long-term benefits to shareholders on a DCF basis.

@ 50 cents there is basically no dilution of in-ground value to RMS shareholders. Maybe 60cents plus could justifiably be on the cards.

Or nothing if whatever is going on behind the scenes falls over.

JT