announcement good and bad, page-7

re: announcement great Actually, Dan, I've been doing a bit of research, and on the Eastern Platinum Ltd website, you'll find that Mareesburg (the Eastplat 'half' of the Everest North/Mareesburg deal) is actually a 2m ounce deposit in its own right! What's more, there's this:

"...Mareesburg's feasibility study is underway and limited production is slated for 2006..."

Let's say SLV comes up with a million ounces of its own (we already have 800,000, so that's not too much of a stretch). That's a combined 3m ounce resource. And just think of the synergies in terms of lowering the cost of production!

What's more, it would seem Eastplats are already well-advanced at Mareesburg. You mentioned in an earlier post a two-year time frame...yet clearly, things are moving much faster than that.

It's frustrating not knowing details of the terms and conditions of the Pool and Share Agreement. I suppose they are evolving even as I write this. But meanwhile how consoling to ponder the 'in-ground' value of those known 800,000 ounces of PGMs at Everest North.

800,000 x US$1,100 = US$880m

Convert that to Australian dollars and divide by the number of shares on issue (106m) and you'll perhaps appreciate my enthusiasm for Everest North.