Newcastle Gold Ltd.

Funny I looked at it like this.

Figure WTG combined with CMM gets up and produces 110k per year

20 from Russian Mine, 20 from Peru, 70 from Lamarque. 10 goes to Deuschbank- leaves us with 100 for the year.

I'll use the 2/1 scenario - outstanding shares = 349 mil. (US Dollar figures)

Revenue at 1400 oz = 87,500,00

Costs (avg 560/oz estimate) = 52,500,00

EPS would be .25

at a PE of 17 = $4.26 share. at 22, =$5.52 per share. Some Gold companies have PE's over 30..

This is a very general look.