just on smokey hills we have great value here.current basket...

just on smokey hills we have great value here.

current basket value = $1150
Cash Costs Estimated from BFS July 06 were $226 (Estimate this might be closer to $300/ounce now)
95,000 ounces per annum
for an effective 85% economic interest.
15% Platinum output hedged at $2000 /oz
this will provide the company with solid earnings

then we have the massive kaplats project which will be a company maker.

Panton is well overdue in terms of the updated BFS. But the cost pressures currently facing miners in WA will make this a tough project.

If Smokey Hills commissioning goes smoothly, and the metals prices bounce a little as it appears they will. I think we could see $4 by Christmas