BK - looking at the tribute agreement and marrying it with a...

BK - looking at the tribute agreement and marrying it with a memory of Rob saying he expected there to be roughly 7,000 oz in the Edna Beryl tribute envelope and using $1,200us an oz and 80c as the AUD value of the USD that would mean roughly $1.4m of income to ERM.

Given our current cash position and the fact that even if the paid out everything for rover it would still only be $500k I doubt the trading halt would be point 3.

I also doubt EVN would be making any announcements just yet as to what they are intending to do post December as they would look very foolish if the announced they were pulling out and then the Goanna drill results all came back with massive gold grades.

Point 1 also seems unlikely unless they have run into massive gold grades while drilling the exploration shaft to the west.

That leaves point 2 and a point I think quite likely that you over looked - a tribute agreement has been entered into for the 100k ounces of gold at Chariot which would mean quite significant income on the horizon for ERM..

Another less likely option is that they have found that missing 5m ounces at goanna.

As usual with this stock who the hell knows - but we will find out Monday and I am tipping that even if they drilled through 1tn of gold per tn for 300m multiple times the SP will stay put.