summary, page-22

Hi Plough,
I noticed your capex figure of $70/tonne for 3Mta was based on a one year mine life? The 3Mta is a start up operation to get the project going before they (hopefully) move on to the 11Mta operation.

With regards to capex on the 3Mta, this figure of 198M is included in the capex on the 11Mta operation of 486M, and will therefore require only an additional 288M to reach a total of 486M. So whilst the first 3Mta costs 198M capex, the next 8Mta only costs 288M. Operating expenditure on 11Mta is $22/tonne.

If the capex is to be measured as a cost per tonne, I am unsure of a generally accepted time period to divide it over but I suspect it would be more than a year.

d_crome, if CFE manages somehow to get this cheap (although for the record I don't think they will), I will be off to buy their shares as I believe there is a lot of potential with DMMs Mayoko site. If DMM were to be up for sale, I suspect there would be a bit of competition from potential strategic partners they have been talking to.

Aside from that, the most positive part of the presentation in my view is the continued talk of funding arrangements and the drilling programme in second half 09 subject to funding. Oh yeah, and that graph on market cap:)