Ann: Placement to Fund Expanded Appraisal and Exploration Program, page-66

Balance Sheet. Balance Sheet. Balance Sheet. The expanded balance sheet would arguably be the most informative Financial Statement of all! Strong management will Always prioritise it's strength and recognise the flags/alerts, (red & green & amber) that are triggered and act accordingly, as we have observed in the past with company's led by solid management teams including CVN. In business, unless you are donating for a chatitable cause, no one spends one dollar to get back just one dollar, (break even), it's to create & increase value on that one dollar to return more than one dollar. Obviously, that's the intention here, so how do you now value CVN? As a company, how do you value the potential now, of what the extra M$50 opportunity now creates for them, upside vs downside with all that the industry already knows about this geology? How do you value this opportunity, this M$50 provides. Is it worth just M$50?