molybdenum, page-2

"Anduramba is D’Aguilar Gold’s most advanced project. Anduramba Molybdenum raised $1.5m in mezzanine funding in early May 2007 by issuing a converting note to assist with funding its bankable feasibility study and increased activity on the project. A Mineral Development Licence application is in progress and the D’Aguilar board has expedited feasibility studies and negotiation of development funding arrangements.

D’Aguilar announced mid December that the Anduramba project has a discounted NVP of $283m before capital expenses. An updated block model and pit optimisation delivered a 21% increase in total ore tonnes. The project has a resource of 32.1 million tonnes: Indicated 20.5 Mt, Inferred 11.6 Mt.

The price of Molybdenum has continued to hold strongly above US$32 per lb over recent months. Current prices are still well below levels seen in the late 1970’s and early 1980’s - four times the current price in real terms.

The new assessment has used conservative strip ratios and has assumed conservative mill operating costs pending further metallurgical testing and process plant specification. A program of oriented HQ diamond core drilling is currently underway at Anduramba to provide material for further detailed metallurgical testing and in situ bulk density measurements. Geotechnical logging will provide information on expected slope stabilities for detailed mine planning." (after http://www.daguilar.com.au/anduramba_molybdenum.html)