Ann: OUTSTANDING HIGH-GRADE GOLD RESULTS FROM NE BANKAN, GUINEA, page-197

MattyDubz. Regarding valuation. At present gold prices, with reasonable drilling results from here, with a defined JORC resource. I would anticipate market cap of $200 million. There will be dilution due to capital raising so say a doubling from here in share value.

I'm anticipating a larger resource given deeper hits, so better than above case. This may give a share price 3-4 times present level. If Gold goes to $3000 USD per oz, add 50% to above levels and at $4000-5000 per USD oz, double or triple above levels.

So if we get some nice deep hits and define a resource that I anticipate, and gold hits $3000-4000 USD per oz we could 10 bag from here. I don't anticipate PDI mining this resource they will be taken out by a gold producer. To me PDI represents a good risk reward opportunity. I believe we are in a gold bull-market, so see present valuation as base case, assuming sovereign risk does not become an issue. But, DYOR.