Ann: Best Gold Mineralisation to date at Wilcherr, page-12

re: Ann: Best Gold Mineralisation to date at ... it's a bit hard to tell greenwayb, but if you take some basic figures and assumptions, it could look something like this:

JV mines 2mt p.a.

say 50% is mineralised with gold

say gold is approx 1g/t

recovery say 90%

=1.0mt x 1g/t x 90% = 0.9m grams, or 30k oz p.a.

costs could be say $500per oz

capex? not sure...

operating margin @ $1,300AUD gold is $800per oz

operating profit = $24mill

not bad for a 'side project' and with very minimal operating risks.

Pretty easy to see why they are pursuing this project keenly.

Anyone, please feel free to adjust these figures where required, they are just a slap together job. Ihave tried to be very conservative too.

cheers
Split