Based on their minimum 50c target level for ESOP trigger, I think your $1 prediciton may be realistic.
Once we get drilling underway, a valuation model can be drawn up to determine what it's all worth.
However, a rough idea of value can be had after trenching though. If the results are strong it really can go up much higher. Parallels will probably get drawn to Porgera, Grasberg etc if geology matches. It's no secret PNG is full of gold.
Ann: Grant of Employee Share Options-GMN.AX, page-4
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