tipping competition, page-35

re: earnings per share Im not really happy with my calculations, they dont quite add up. One of the problems is we dont have a clear indication how much AGM will get for its concentrate.

If we use the figures released in April 90000 tonnes worth 1.3 bilion US and assume it cost Jinchuan the same amount to process and transport the concentrate as it costs AGM to mine and process the ore, we a left with a profit to Jinchuan of 7.5%. If we make that 10%, you can add at least 20% to my figures.

If Saxon is significant, even if its not as big as Avebury, I cant help concluding that AGM will be worth more like $3 in 18 months time, assuming nickel stays above $25000 US.

As to where the SP will be Who knows? It may not reach full value untill after a year of full production when more meaningful figures are available.

What is more certain is that the SP will continue to rise during 2007.

Happy New Year to all; Im working so please celebrate for me!