Hi Goldbear While I agree with your points, my calculations were...

Hi Goldbear

While I agree with your points, my calculations were based on information (accurate or otherwise) gathered from documents provided on the CMM web site. For example, the Patersons analysis is based on:

VALUATION
Based on our assessment of the resource potential of the Bibra deposit and the likelihood of some regional exploration success, we estimate an ultimate mine life for the broader Karlawinda Project of 10 years producing c78koz of gold per annum, on average.

IN the Gordon Capital report is the statement:

Within the Karlawinda tenements the nearby prospects
at Francopan and K3 have significant potential to add further ounces with previous exploration work identifying the possibility of a larger, higher-grade mineralised core at depth that have been interpreted as potentially hosting a +1Moz orebody.

As stated I use my ROM analysis to give me guidance on whether to buy/sell or keep. The about to be released Scoping Study will allow me/us to further refine my calculations, so I will know shortly wether or not my SP estimates were sound or too rough.

Cheers

R1