Langbar International

Bloody hell, a lot to tell....her's a cut and paste from the bb that shows one half reasoned argument......but basically
- 1. rising production (to 300000 ozs + over next 18 mnths)
- 2. no debt
- 3. currently paying down hedge at 4000 ozs / mnth (should be completed within 12 mnths)
- 4. dividend expected as at end 2005
- 5. poss US listing in 2006
- 6. blue sky potential via current exploration areas....possibly a c500000 oz / year producer within 3 years

H-O-T

kojak78 - 17 Oct'05 - 09:45 - 1163 of 1179


..... a worst case scenario:
Gold price 512 in 2006, but very tame prices in 2007 only 8% higher at 540.
Penjom 120 @240, North Lanut disappointing 40 @250, ZGC 40 @450. 200 @284.
US$32 mio net in 2007.

The optimistic case would be 120 @200 for Penjom, 60 @200 for North Lanut and 85 @290 for ZGC. And 130 @120 for Taror/Chore (copper prices are even higher now and the economics of the old Nelson pre-feasibility studies suggest prices that low). 395 @193
US$95 mio net in 2007.

The gold bug's case would be the same but factoring in new all-time highs for the price of gold at US$900 in 2007. Net earnings would equal US$200 mio.

The p/e ratios will be 6, 2 and below 1