short term pain, page-12

Likewise Sinbin but a slightly different angle of attack.

I ask myself why JPM,NS et al took what they took at what they did.I then ask myself why the Cannucks took up the escrows.

If Perkoa is valued on NPV at 41c/share then this implies they(JPM,NS etal) are either looking at a P/E valuation(with perhaps a 7+ multiplier) with virtually no debt(quite possible if they finance the rest of Perkoa via escrows)

OR

theres something bigger in the wind such as a full intention to develop Mumbwa as an underground op, much like Kansanshi.This one I find hard to accept though as Mumbwa has not been proven up to any degree,which brings me back to Perkoa.

In any event they will have a rather large chunk of cash to push Perkoa with the downside once again being the mention of late 2008 production.(zzzzzzzz)

Unfortunately I think we have to start being realistic about this being the first cashflow from Perkoa as the plant doesnt arrive at Perkoa until late 07 which will put concentrate production at least back to late 2008.I cant say I have ever heard of a plant being successfully ramped up to production within 12 months.

I too have seriously thought of lopping a bit off my oppies holding to trade elsewhere but Im getting to the stage where I cant really be bothered.In fact I get a little depressed when realising I could have held my RRS and PPP and sold now and got back into Aimo's with another 50%+ capital to inject into them at this level.

Oh well I'll go back into hibernation(as this seems to bring annmnts out of them)and just forget about them until we get some drill results or something worthwhile talking about.

Im not going to dwell on the qtrly as imo it was pretty much a simple cut and paste effort(average at that) with a couple of dubious variations on the theme designed to get us to read between the lines.Given up on doing this too.

Im just going to go with decent annmnts on project advances now and stop the speculation as it instills too much expectation.

d.