perspective

I thought I'd try and get some perspective on the value of this company...

Current Value

-Current shares on Issue: 216,485,334 (incl the 25m from recent placement)

-Current Share price: $0.039

-Market Cap: $8,442,928

A week ago the share was trading at $0.01 putting the market cap at (pre placement): $1.9m. The low price for the month was $0.006 ($1.1m). (I'm not going to go back further than this)

So the market was valuing there assets and technology somewhere between $1m and $2m pre announcement, however this was somewhat skewed by the fact that La Jolla was converting shares and selling putting significant downward pressure on the share price.

We now have:

-$5m from JX Nippon and a cross license agreement
-Upto $5m to come from BSM (from mid to late 2011)
- La Jolla has been paid out via the share placement and an issue of 25m shares @ $0.03 ($750k) - so no further share conversions
- still have the environ bond of approx $4m for EAF stockpile

Activity continues with...
-GB Glavanising plant continues to develop (phase 3 to be developed 2011)
-A small shareholding in green Resources in China (7%)
-Not sure where we are at with Iran?
Other projects: Intec Gold process in AshantiGold and Intec Zinc process in sth America and Middle East


At the high on Thursday of $0.09 the market cap was $17.2m (pre placement shares)

At a share price of $0.05 the market cap would be $10.8m (incl placement shares)

Every $0.01 tick is worth +/- approx $2m on the mkt cap.

So in the last week we've gone from a low of $1m to a high of $17m and currently valued at $8m.

None of this is intended as advice - just giving perspective.

Good Luck All

Maddoc