mumbwa, page-17

re: mumbwa.annmnt timing.sinbin As you know I like conspiracies as they apply to the market Sinbin.But I take your point.

I think I must still be thinking on the conservative side with regards to a valuation on Perkoa relative to your thinking and you are more than likely right considering that

*There SHOULD be less dilution due to the higher sp,which will raise the cps due to Perkoa.I note that Lonsec based these valuations on a fully diluted basis when the $20M issue was to be at 15cps.So we should get a few cents out of this perhaps if the issue takes place at somewhere around 30c.

and

*If the Lonsec valuation is close to the money,62c based on a zinc price of $1.40/lb(which is conservative anyway because of the above),and IF Aim attain a fixed zinc price deal say between the current 15/27 month contracts,which would put the price somewhere between $1.66/lb and $1.44/lb(which are both above Lonsec's assumed price) then we have upside here as well.

And this is just based on an Npv valuation and not a potential P/E valuation which may well be what these recent substantial holders will be holding on for.