hi navygulf this should take off when they announce that mining...

hi navygulf this should take off when they announce that mining has started so long as qld mm don't dump stock again, they still have 7.7million they acquired at o.o5c so whether they decide to let it run and take a 600% profit or dump early and take 100% remains to be seen but from what I've heard they're smart enough to take huge profits post announcement.
I was doing some calcs and asking questions about the potential value of the S.A assets before they were reinstated and I came up with a percentage of 4% of total value for the previous sale to mintails.
139 700 oz x $1600 aud =$223 520 000 divided by 100 = 2 235 200
9 000 000 divided by 2 235 000 = 4% , when the ann. came out that mintails were buying the lease for $9 million the gold price was $1615 aud, bearing in mind the deal would have been negotiated for a number of weeks before hand the pog started the year at $1529 and finished at $1632 31st jan 2012.
so if we use 4% as a marker and times that by 287 ooo oz at a gold price of $1500 aud we get a total of $17.22 million dollars, apparently it will be much easier to mine the current leases so if we get a better deal we could see north of $20 million and if we are already cash flow positive at derewo this should be achievable.

regards timmo