Hi everyone,this is my take:1. 31% rate of return is very good...

Hi everyone,

this is my take:

1. 31% rate of return is very good IMO.

2. Capital required is big ($60m) but that doesn't scare me, it tells me that board would be busy now looking up the "financing options" book to study all options becuase we'll need most of them, if not all!! :)

3. capital to be paid back in 2 years! not a bad rate at all!!

to remind everyone:

I think the current plan is still based on the initial estimation of 4 years mine life for Sandiego & another 4 years for Onedin.

now, if we estimate 8 years mining life, set up capital is paid in first 2 years, then we have 2 years left with full profits from Sandiego & another 4 years on Onedin.

Onedin is still a question mark but if infrastructure is already paid for in first 2 years from money generated from Sandiego then ALL PROFITS from Onedin will be coming in with no libility towards the infrastructure cost. it becomes PURE profits.

4. 6c/share profits is still double current share price in PROFITS, which is very good IMO & WITHOUT ONEDIN in the equation at all.

5. next qrtr drilling gives me the feeling that board is looking for longer mine life, which if we did have more resources then obviously mine life will go higher & calculations start from the begining.

6. SP didn't go higher IMO becuase it wasn't supposed to, for the last 2 years we've been saying that we'll start to get attention at this stage NOW after feasibility is out. Add in that board didn't agree yet to go ahead in full wording & that we don't have financing & ONEDIN is still not clear, I can see many putting us on their watchlists & banks would be making some vague calls to get more info & they're waiting for our board's next move.

also, plenty would've got some shares to sell on the news & now they're selling based on the "sell on facts" theory.

7. a partner, a takeover, financing, issuing shares/options, etc.... all these are probably ways to get money & we need money to build up. the important fact here is that we HAVE resources that require money to get it out & have profits. that is in my opinion a total "regrade" to AAR from a potential miner that could or could not mine (subject to feasibility) to a miner that is looking for cash to finance their PROFITABLE project & that is exactly what I was looking for.

cheers everyone, I've been busy for last few months with a new project & I couldn't post but I read all your comments weekly & I enjoy them all, even buddy's posts! :)