Ann: Highly Anomalous Gold in Soils at Lewis Ponds Project, page-11

I thought I would share one of the reasons why I believe GRL is very undervalued.

The table below is the current in ground values of the existing Lewis Ponds resource based on the original GRL prospectus.

I have used current metal prices and an USD exchange rate of around 72c




Since listing the prices of gold, silver and copper have risen strongly and the values of lead and zinc are about the same.
Remember this is only for Lewis Ponds and doesnt include GRLs other projects. I would expect this resource to increase with further exploration. The recently released soil sampling is certainly encouraging.

The table above shows an in ground value of around 3.3 billion AUD. Not bad for a company with a current market cap of around 14 million. Also of note is the in ground value of the silver is nearly that of the gold.

Exciting times ahead for GRL shareholders.