projected ozl revenue based on todays prices, page-13

Thanks HT,

Thanks for your work

A NPV of 9.88% seems awfully harsh for a feehold mine. In the NPV calculation do you factor in any appreciation in price?

Should have guessed that you would factor in the Gold. I value your analyses even though I may quibble occasionally on the assumptions.

Your analysis seems to indicate the sp is at correct level which I can accept for now, but I believe it is the lower limit. I see a gradual increase in SP over the next year.

On the upside we have
A new CEO
Strategy to be announced.
Exploration at PH leading to more reserves and increased mine life
Exploration in Cambodia
Appreciating Copper and Gold prices
TOE --- Who knows what this will do
Share buyback?

All looks very positiive