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cl001

02/26/10 2:02 PM

#18418 RE: opzeeland #18354

GDMN cash position.
My estimate was based on Q3 filing. They are getting about 6 million/year management fees from Sumitomo, I don't know the extend of the fee payment schedule. In addition, they told me they will get 2 million "bonus" for their good work last year, that should add to the cash position.
They did aggressive drilling Q4, that could have drained some of the cash.