Some highlights from the preso just out:- now talking about a 10...

Some highlights from the preso just out:
- now talking about a 10 year project life @ 100k ounces, up from 8 years in past presentations
- target resources of 2.25m ounces by end 2011
- pit optimisation work completed Dec this year

So splitting the difference maybe a resource upgrade of 375k ounces this year, 375k next year. Maybe a reserve announcement Dec/Jan?

They highlight the average EV an ounce is $90 in the industry (currently trading on $22 EV/oz)

On that basis, undiluted, AAG shares would be worth (on current JORC not discounting for inferred resource) roughly 67cents-ish. Doesn't include upgrade(s).

Assuming 375k upgrade, no dilution and AAG trading on peer average of $90 EV/oz upper price target $0.83.

JT