re: golden eagle royalty -crow The Nullagine Tenements weren't actually acquired until December 2001 - Announcement 19/12/2001. I always took a 5 year view because getting a mine going doesn't happen overnight and at the end of the day that is about the exact time frame. They had intended that Echo would financial underpin the company but 9/11 basically killed Echo but all is not lost as it is now PAA and looking good. The reality is that it hasn't happened as quickly as some connected with the company might have thought but the time frame is not unrealistic. Looking at the forward Gold Prices through to 2010 makes this look fairly robust given the BFS only cover half of the reserves.
WTE
wedgetail mining limited
