positive scoping study results for ann mason, page-5

re: old buyers at 58 are doing the selling Profittrader,

There are a couple of noticable items absent from their highlights in the announcement.

1) Start up capital costs - $1billion
2) Sustainable Capital costs - ?? Maybe $1-$2 billion

Therefore the company needs at least 3years and $1billion dollars before it can get to the ore body.

This was what I was talking about before. Big ore body, low grade = high risk. Big ore body, low grade and deep = too much risk.

There only hope of getting anything out of it at this stage is to get a major to come in with the cash. The major would want at least 90-95% of the NPV for the risky investment.

Will follow this one for many a year to come, just to see what happens.

GOOD LUCK