The Brains Trust, page-3155

Hi CG,

For what it's worth I had a look at GOR and DCN recently.

I ended up buying GOR in super as it has no need for debt/equity financing, and as you mention Gold Fields has taken on responsibility for up to a 10% overrun in development costs. Also like the thought of getting in for less than Gold Fields paid in terms of GOR's current EV vs purchase price.

However, on the metric I was looking at DCN had the potential for better share price appreciation. This metric was projected share price based on EV/FCF ratios at various gold prices over the first few years of operation.

Am also interested in Nordesmic's view.