i am back, page-12

re: $0.175 In my opinion this is a silent one and just a matter of time before they appoint a lead financier.

The company is well advanced in the detailed engineering design, is close to appointing a lead financier and has started purchasing the remaining surface rights.

Construction is planned to commence in the 2nd half of 2006, with production following one year later.



· At a milling rate of 2mpta, we expect Dinkidi can deliver an average of 220,000oz/pa gold equivalent (approximately 140,000oz/pa of gold and 13,000t/pa of copper) in the first 10 years. We anticipate cash costs to average US$216/oz equivalent, getting as low as US$172/oz equivalent. Total costs should average US$282/oz equivalent.

The project is well leveraged to metal price assumptions. Each US$50/oz increase in the long term gold price adds A$0.11/share to the NPV while each US$0.25/lb increase in the copper price adds A$0.15/share. To illustrate this we note that at current spot prices CMX is valued at A$1.12/share and is trading at future earnings multiples of less than 1x.