Big TU again Jako - that is extremely helpful. I am also a...

Big TU again Jako - that is extremely helpful. I am also a holder of AJM, so this is twice as helpful.

Just a quick clarification question. As you know, in a DCF model, the year 1 position is most important. I see you have put 13m for cash at bank. Is this because you have wrapped up the current year's production under the 2012 column? We should see upside also from the royalties. I also suspect the tax rate will be less than 30$ this year (hopefully) given carried forward tax losses.

p.s. I don't like giving out my email, not because I don't trust you, but have some haters on other threads!