Ann: High-grade nickel sulphide discovery at Gillett North, page-23

Interested to hear from any valuation experts.

I was once told a good rule of thumb for pre-production projects was to calculate the value of ore in the ground and value would be approx. 5% of that figure.

I realise there a number of risk factors that would impact that calculation but given WIN's existing funding, location, maturity, new discovery potential etc. etc. I would have thought it was on the lower end of the risk profile (JMO).

Based on current Nickel prices and endowment I calculate share price could already be about $1 per share.

Appreciate thoughts from more experienced resource project investors.

Cheers,
SC