EPD could this go to £40 per share ?????

Simple reminders

* At 20p, 57.07m ords, mcap £11.41m (undiluted), debt free

* Lesotho Satellite Mine completed within $10m budget

* Satellite production planned life 5 years

* SM original plan 290K crts/yr, at $40crt revenue $11.6m /yr

* 75% attrib. SM revenue $8.7m, annual forecast $4-5m free cashflow

* Other projects Lesotho main pipe and Finland Lahtojoki

* Conclusion - looks inexpensive