punters, page-8

To expand on your thinking D12 re the similarity to what happened in Oct-Dec 06 one should perhaps look at not only the chart and T/A indicators but as I have been banging on about all weekend the commbination of these indicators with the fundamental situation as it stands NOW as compared to how it stood in late 06 moving into 07.

What were we expecting then?

A quick succession of License approval/offtake/finance I believe.But then all went rapidly off the rails as the license was late in coming and the offtake was stalled due to Cote D'Ivore not sorting its seciruty issues until a bit later than expected.

So now we have a situtation in which apparently we have stability coming back to Cote D'Ivore and perhaps a final resolution of the offtake.

Imo the recent happenings with JPM intimates that they have analysed the situation and have decided that its time for the company to be taken back to the valuation that it had late 06 when it should have continued to move up on the basis that they would be producing by early 08.In other words they are mirroring North Sounds assessment of Perkoa.

What I find facinating in all this is that this may have worked right into the hands of a stronger sp in that we now have a higher % of significant holders and a potential for a much better dilutionary situation than if we had commited to a C/note conversion at the beginning of 07.

In other words we will know EXACTLY where we stand in terms of a valuation for Perkoa(if an issue is done in the next 6 months at a higher sp) as we will not only know the likely the number of shares on issue as well as the OCF likely to come from Perkoa.

There will not be the devaluing of the sp that would have occured due to waiting for the much higher dilutionary effect of a c/note conversion if it was to happen at a lower sp.

d.