the case for mco, page-3

gonnfishing,

I am in agreeance with most of your figures but the big unknown for me is the cost base per oz. I am lead to believe that the cost/oz is focused around the 10-12gm/tonne headgrade mark. It's all Geoffrey Robertson at the moment but it could make a huge difference to the final outcome.

The other factor for me is that headgrade forecast by the company could well turn out to be quite conservative, making an even bigger difference to the bottom line.

Having said that, I am actually quite happy for NG to be conservative with his numbers at this point in time because most of us don't really like surprises to the downside. Lets face it the forecasts work quite well without having to embellish them. I will acknowledge however that we are in a bit of strife if they are rubbery, but that's the risk I have accepted.

Be more than happy if your figures are right though gonnfishing, and will add that makes an EPS of about 11 cents/share.