tap's value

For what it's worth, here's my guesstimate of TAP's value - $1.10 - assumptions where applicable are shown in the table below. There's obviously lots of upside potential for Tallaganda and Zola which could potentially take the SP well above $1.50 (or not - Tallaganda is particularly uncertain), which we'll find out soon. A recent presentation suggested the results from Tallaganda would be complete by the end of 2012 Q4. Anyone else got an estimate on the earnings from Manora?

I would be really interested in hearing alternate views.