Ya YaI've previouly posted valuations on GDM both on here on...

Ya Ya

I've previouly posted valuations on GDM both on here on "other forums", so won't repost them in full on here, but...

But work out the market cap @ 166m x $0.46 = $76m

Now lets work out the EV value.

Subtract - Cash on hand (30/6/07 = $7.5m*)

Less - Exploration & Admin costs of say $1.5m = $6m

Value of Listed Investments:

UNX - 33m x $1.185 = $39m

CNI - (14m x $C1.46 /1.15) = $18m
(+ Cash approx $C17m/$1.15) = $14m*

So $6m + $39 = $18m + $14m = $77m!!!!!!

* CNI cash not incl in Cash figure

This doesn't include ANY of GDM's projects, ie Cairns Hill, Mt Woods, Lonmin JV's, 1% NSR over AGS permit...

CNI figures off the TSX website & FX rates off Findata.

Which ever way you want to look at it, GDM is cheap & vastly undervalued & whoever said its value is 2 - 3 times its current value, isnt too far off the mark IMO.

I hold & no surprise i'm buying...