article, page-2

Spot on Tadewi,

The Martabe sale will give us and the market a very good indication indeed as to the true value of pungkut.

I notice "The Autralian" has a little bit more info about it. The 'May' valuation is interesting indeed and may even be closer to the mark if things start to turn around in the economy over the next few years. :-)

"The Melbourne-based miner, formed through the merger of Oxiana and Zinifex last year, will be doing well if it can get more than $US250 million for Martabe, which is expected to produce 200,000 ounces of gold and 2 million ounces of silver a year for 10 years.

Analysts at Deutsche Bank and Citi separately valued the project at $230 million to $240 million last month.

Illustrating the speed of the decline in the value of mines, independent expert Grant Samuel valued Martabe at $700 million to $800 million in May when looking at the Oxiana/Zinifex merger.

Martabe was expected to start producing at the end of this year but development was put on hold in November as OZ moved to slash company operating and capital costs."

Cheers
GazzaT