so whats cape lambert worth, page-49

Well Heres my 2 bobs worth. We have worked out after taxes and everything they will have.

1. Cash backing of around 68 cents a share
2. The Cape Lambert South Tenement 300mt resource
3. Cash to go bargain hunting
4. Around 20 cents per share to go back to shareholders
5. Earning interest on 170 million ( after shareholder dividend) is around 13 million in intrest per year
6. 87 million is not taxed til 2010. There is another 14 in intrest million for 2 years

I estimate a share woth at least 80 to 90 cents.
Make you own decision but this a bargain at current levels.

Regards

MikePike