conceptual modelling should be banned imo, page-62

Steve,

Their is 20% of shares held in escrow until Dec 2008 with 22.5m vendor and management options of 22.5m. The directors and assoc. hold nearly 30%.

The company has 67m shares diluted which is a large difference to your 35m figure.

Whe she hit 87c today, the market(?)valued her at $57.6m.

Your figures are out.

May I also add that the comparison (ala FDL/FMG) to a successful explorer like ARH is IMO not apparent. Quite simply, the daytraders got carried away on a very badly worded announcement. They only have $1m in the bank ($1.4m as of the 31/03).

What a few may not recognise is that they even put forward a non JORC compliant figure regarding their mineral sands.

They completely stuffed it.

Hope you made money - good luck.