re: share price should be double that currently Strachan...

re: share price should be double that currently Strachan Corporate’s long term value target of
$150 million or 82 cps should gradually be
recognised by the market as projects move closer
to production during 2007/8.
Exco’s White Dam gold project could be in
construction Q1 2007 and commissioned by June.
Earnings in FY 2008 are estimated at over 4 cps,
rising to 7 cps in FY 2009.
Spending of $750K to expand its copper resource
base around Cloncurry during Q4 2006, combined
with movement towards concentrate production in a
purpose built plant should provide market support.
Exco’s enterprise value is substantially underpinned
by Strachan Corporate’s estimated pre-tax NPV of
$38 million for its White Dam gold project. A dump
leach project at White Dam should commence mid
2007, generating $33.5 million of free cash over
three years from production of 140,000 oz of gold.
�� Lycopodium Engineering has been appointed to
conduct an initial scoping study for production of a
copper/gold concentrate at Cloncurry with early
2009 seen as an achievable start-up date.
Resources in the region now stand at around 351 Kt
of copper plus 354 Koz of gold.
�� Strachan Corporate believes that Exco’s copper &
gold resources in Queensland have a long term
value of $70-$120 million, equal to 38-65 cents per
share to the company.
�� The company has significant exploration appeal, both
around its White Dam gold project, where deeper high
grade gold intersections have been recorded and
around Cloncurry, where significant new copper
mineralisation has been discovered and purchased.

It is an absolute joke that the share price is hanging around at current levels.