News: Carpenteria at 20:20 Investor series , page-9

Interesting part of the quarterly:
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These figures are projected to generate an approximate average yearly total project gross profit of A$700m.
An independent due diligence review of the PFS is expected to be completed in early August 2011. The preliminary document provided to CAP concluded that the PFS has been conducted based on data and cost estimates that are reasonable and appropriate for a PFS and that mining and process methods are conventional and consistent with modern practice. The draft review identified issues to be prioritised during the early phases of the Detailed Feasibility Study (DFS) including increasing the resource base and further optimising the production schedule.
Current project development is pursuing prompt start-up options by undertaking detailed technical work, including additional geological interpretation and resource modelling, mining schedule optimisation and further metallurgical testing to maximise the advantages of this soft magnetite ore which produces a high quality concentrate.
This work will enhance the PFS base case and/or identify other options to significantly increase the value of the project and inputs to the DFS.

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SOme interesting new points there. Not sure I have read about the independent review before.

But hello....700 m gross profit! per year....

And we are trading at EV of 20m.

Get the PR machine out there and make this project happen.

Conglin is gonna get this for 50c a share, and we are going to look like the laughing stocks of the world