to be re rated, page-7

re: one for the drawer - scottyg71 Hi scottyg71

I read the report & was suitably impressed

Hope they ease back tomorrow & I will get some

SMO - SMC GOLD LIMITED
SMC Gold Forecasts Net Cashflow of US$5.1m in 2005 and US$22.0m in 2007
28/07/2005 10:34AM

SMC Gold forecast net cashflow of US$5.1m for the 2005 calendar year following the current expansion of operations in Chile. Net cashflow is forecast to rise to US$22.0m in calendar 2007 as a result of the second stage of expansion. The forecasts are based on a copper price of US$1.50 a pound. The current expansion is expected to be completed next month. Following the second stage expansion: copper production is planned to increase from an estimated 4,000t in 2005 to 6,000t in 2006 and 13,000t in 2007; and gold production is planned to increase from an estimated 2,000oz in 2005 to 3,400oz in 2006 and 6,600oz in 2007. The company is confident that it can exceed these estimates for gold production. Current mineral resources are estimated to total the equivalent of 2Moz Au or 317,000t Cu. Exploration potential is estimated at a further 2-3Moz AuEq.