mount carbine potential revenue, page-10

Hi

Grades of 0.3% are not feasible IMO - this is where the problem lies. I endeavoured to discuss this before but got
shouted down so I am glad you brought up the subject. Currently, their is no JORC reserve and no moly alhtough their is a possibility of a scheelite concession.

There are no head grades. As I see it, a liklihood is that Mt Carbine will be agreed too, given a set conditions and targets are met.

OPEX and CAPEX have not even been thought of - little alone a feasibility study. If agreed, Mt Carbine will be drilled throughout 2008.

IMO, when looking at MTU (cash costs net of credits) - they'll struggle - similar to THR but the concentrate is pivotal.

They need more studies and finance.

What happened to Whumbal being like Vital?

IMO, what is dangerous for current holders is the gold results - they'll be dreadful based on currently known assays - the antimony does nothing apart from adding a few g/t.

The ramping by the company on antimony began last year.

As you can tell, while I have held this company, I have very little respect for the current market asessment of what its worth.

Its all speculative but investing in this one now endangers oneself to enormous risk vs reward. So many soph investors have been burnt by this one in the past.

Sell her when you can IMO. Just an awful price atm.

She was spec buy at 2.1, but at 29? or even 10 plus?