touqouy decision announced in our favour, page-12

Page 2 of the annual report states the NPV of the project with a gold price of $1700 is around $200 mill.

Now discount that due to fact atv needs to somehow acquire $140 mill, all other risks in mining parameters, POG and a multitude of others I have missed.

We get to around $100 mill, which atv nets only $60mill, then atv pays tax..... So I guess $50 mill at max is the current NPV of the Touquoy gold project to ATV/us.

Now add to this the value of CH, which has definitely appreciated post appropriation say from $4mill to $10 mill.

And we have the true NPV of atv's gold projects attributable to the shareholders of around $60mill.

Anyone have any valid reasons for why this co. should have a market cap of more than $60mill. Any discrepancies will be sorted on Monday/Tuesday.

I will be extremely surprised if the SP exceeds 10c in the near future. There is still much uncertainty which I haven't taken into account, which the market does severely discount against.

When will we see the next CR.... monday..... tuesday.... Lets hope Wally sets a more reasonable price than the last. Renouncable has a good ring to it!!!!

1 hurdle down many more to come......