In my book, the fastracking has moved up to favourite as a major...

In my book, the fastracking has moved up to favourite as a major imminent piece of news. My reasoning is twofold:

1. This quote from the recent Brisbane conference:

Production forecast to commence in 2011
 Opportunity to accelerate development through access
to existing infrastructure and wash plants at neighbouring
operation. Discussions ongoing

2. Fastracking Vaalbank (20yr minelife) is the only piece of news that we have been made aware of that will add multiples to the current share price:

Vlak, Ferreira, and Penumbra = 2.28mtpa of which 55% is domestic = Net earnings @25% = $19.9m

Conti's 75% of Vaalbank even at a 40/60 domestic/export split, alone would result in net earnings @ 25% = $33m

Vaalbank gives me an EPS of 1.1c. p/e 10= 11c, p/e 20= 22c

It is clear to me why Vaalbank is and should be a priority for Conti. The free cashflow that Vaalbank will being to deliver in the short term (>1yr) is immense, and it appears to be the piece of news on the horizon that will deliver the largest slice of shareholder value over the coming months. Bring on those mining rights.

Happy to be corrected and made a fool of next week, but if it does happen, we could be a 5mtpa company within a matter of months (Vaalbank - 6-9months to development). Would appreciate it is anybody going to the AGM could ask about Vaalbank.