Kawartha,EBIT going forard - projections;Dec 06 ¡s 4 MillionMar...

Kawartha,

EBIT going forard - projections;
Dec 06 ¡s 4 Million
Mar 07 ¡s 5 Million
Jun 07 ¡s 6 Million

Approx 18 Mill for 06/07. Gives P/E of approx 6.
Using P/E of 12 gives $0.42

These projections are based on $3 per pound of Cu and 1,250 tpd production rates.

With 3,000 tpd and $3 per pound Cu we are looking at $US 14-15 Million per quarter or 56 Milion pa.

This is 4 times the 18 Million!!!!! and using P/E of 12
gives a very nice number $1.68.

A P/E of 8 still yields $1.12.

Could this be possible ? Please correct my calculation if in error. It seems too damn promising.

Two year horizon is looking very good.

Cheers,
IHS