Prior to the most recent announcement entitled "Frog's Led...

Prior to the most recent announcement entitled "Frog's Led Resource Continues to Grow, Last Year by 95%, This Year By 37%", the company provided an Indicative Cashflow Summary (for this project only) at the back of the February 2008 Quarterly Report.

The February Quarterly Report described an economically robust project based on Dioro's 49% share. Using a Gold Price in Australian Dollarts of A$950, the Net Cash Flow amounts to approx A$87m

Now, with the 37% upgrade in M&I resources (ignore for the time being the Inferred resource of 934,000 tonnes @ 5.9 g/t for an additional 176,000 oz) the Net Cash Flow climbs substantially to around $170m !!!!!!!!!!!!

So, without taking into account the other assets and resources of the company, DIO with $20m in cash and a market cap of $100m IS undoubtedly a screaming buy.

Given the recent significant upgrade in M&I resources at Frog's Leg, Brokers / Analysts need to put their ruler over this one again to get a fresh measure of its value.