I have taken some of the most important quotes to me from the news release and arranged them in an order that I particularly like:

"Eritrea has received all required credit approvals" Fianlly.

"The Project is now more than one third completed, and the forecast cost to complete remains on budget. The mine is expected to start producing gold in Q3 2010."

Oh?, Great. so we are about a year away from Happy Land.

"The projected operating cash costs for gold production are estimated to be less than $230/oz, including royalties. The after tax internal rate of return of the Project, using recent metal prices and including the cost of finance, is approximately 54%."

So even with Eritrea's big chunk out we still get a bit over half in our pockets. Fantastic!.

"At recent metal prices, the Project is expected to generate enough cash in the first two and a half years to repay all debt facilities, as well as fund the copper phase mine expansion during the same period."

So no more share dillution? Nice indeed.