ms "bb", page-7

hi marwoode,

Apologies for not having completly correct details on conquest/catalpa merger.

more over my point was this:

in the SBM deal CAH shareholders would have 20% of new comp at $1.92 per share deal over, thats it, which would have been great for day traders and some shareholders but not everyone.


In my opinion cah shareholders will derive more value from conquest/cah emrger as:

Cah shareholders will hold about 40% of new company, based on 38% newcrest and .3 cah to 1 cqt

Company will hold 5 or so gold projects with ability to produce 400,000 ounces of gold per yr

cornerstone shareholder NCM is large industry presense with ability to provide new opportunities to cah.

as always these are my opinions