Broker Data, page-51

It's a binary outcome. No deal with Jerritt no production and it's just an exploration play which means it get valued at market speculative rates of us$20-50/oz for Nevada. Upside, but until they drill id say us$50m (17c) would be target

If they do a deal with Jerritt canyon then the game changes. I'd say we could be looking at 40-50c a share next year based on my 4x cash flow multiple numbers

Anova has everything I like in a gold junior: orebody, exploration potential, nearby mill, low capex, high grade, good management and strong shareholders. In time the market will figure the value out.

Till then there it is excellent opportunitu in this stock at present and a good switch out of other gold stocks which are fully valued