my wose case scenario outcome

For those that care for my opinion (a small number it looks like), I have put my worse case scenario below. I actually think the liklihood of this being the results is by no means out of the question.

It assumes;
1) The mining tenements are not given to BCL. They thus loose it.
2) The disputed IRC tax issue goes in the favour of the PNG government (highly likely IMO)
3) The payments owed to Rio by BCL will be paid.
4) A small number of debtors will pay up (these debtors are unclassified in the financials. I have given them the benefit of the doubt that these will be collected)

This shows, to me, a going concern value of ~A$50m. Mkt cap is A$108. So the shareprice still has a way to fall if things start to go against BCL in terms of the tenament.

For those investing in this, the magig number, IMO, is about 12c per share.

Kogarahboy, this is for you. If the share price drops below 10c, im a buyer. until then, ill maintain a sell sentiment.

PS: I am happy to have a conversation on this thread. But no one seems to want to. Happy to field any rebuttals you have. Field any questions anyone has.

	Column 1	Column 2	Column 3
0	My Worse Case Scenario
1			K'000
2		Investments	105396
3		Cash	13553
4		Realisable Debtors	3909
5			122858
6
7	less	current trade payable	3720
8
9		Total	119138
10
11		PGK:AUD (high)	2.12
12		PGK:AUD (ANZ)	2.3795
13
14		AUD	$   56,197,169.81
15	[/B]	AUD (ANZ)	$   50,068,501.79