my thoughts, page-9

osirisunnefer,

it is obvious to a lot of us here that Indophil is worth more than the $1.28 offered now (and offered last year).
It would also be obvious to large mining houses.

Since the bid at $1.28 last year there has been:-

• An 8% increase in the mineral resource at Tampakan, up from 2.2 billion tonnes (Bt) to 2.4Bt.

• A 25% increase in Measured tonnes, up from 620 million tonnes (Mt) to 780Mt, thereby improving confidence levels.

• an increase in contained copper up from 12.8Mt to 13.5Mt, and contained gold up from 15.2 million ounces (Moz) to 15.8Moz.

• Significant upside for growth and new discovery in the project area.

-Completion of pre-feasibility study and commencement of work on Bankable Feasibility study

-Substantial increase in spot gold price now trading at $US/ounce Bid/Ask 1210.50 - 1211.50 vs approx. $US800/ounce

-Substantial increase in spot copper price increaseis now trading at $US/lb Bid/Ask 3.1931 - 3.1977 vs approx $2.50/lb

The Global Finacial Crisis is behind us and at some point we may be entering into Synchronised Gloabl Recovery (with more demand pressure placed on copper resources and resultant effect on copper price)