that is exactly correct downside. my guess is that thomas was...

that is exactly correct downside. my guess is that thomas was expecting the chatree north leases to be granted, and that by now, kcn would be well on their way with the expansion to about 300,000 oz per annum. sadly, for kcn, thomas and watso, this has not occured. anyway, watso continues to dream

300,000 oz per anum at a cash cost of US$250
300,000 oz sold at US$650

margin US$400 per oz or US$120m

or AU$145m

throw in another mine (from hoped for exploration success)

AU$300m cash flow

woops - watso just woke up!!!!!!!!!!