sitting duck, page-5

Sounds like a good plan to me Audacious. CGT just ramping up to steady state production, with extensive infrastructure at Ballarat, potentially very productive tenements, no debt, and with adequate cash for their immediate needs, have no real need to tie up with anyone else, and UML could lumber along as is, but a merger between CGT and UML would make a lot of sense. The combined entity would have about $60 - $70m cash, annual production of 100,000 ounces, and a wealth of highly prospective ground to explore.

Rationalisation of Head Office and senior management costs would be an added bonus.

Have you sent your suggestion to the companies?

Cheers,

Mike