Ann: Company Update, page-4

With Twin Hills sitting at 1m oz and open in many directions for further growth, its stand alone asset potential is very high... then you have the additional assets/resources for further leverage....

At $3,000 and rising there comes a point in time when more and more of those ounces become viable... Gold has the potential to moonshoot to $3,250-$3,500 within 6-12 months... it has all the ingredients to do so.... i suspect Yandan becomes its own asset at those prices, and that asset alone has some clear priority 1 targets for growth toward 1m oz...

meanwhile NCM have a crack at Mount Coolon and find the guts of the epithermal system...

White dams chances of commercialising increase by the day and for a meaningful sum ($5m?)

And novo ticks along increasing by the day.... Using todays prices the left over value of the the Con note would be $5.75m, its reducing weekly.... offset a couple mill of White Dam proceeds against this and who knows, your left with 2-3m, assuming Novo doesnt go up further from such a low base.

Its all relative to the market cap... and at $17m.... i think the risk/reward is highly unjustified.

Not factoring in Mt Morgan too which could easily be divested in an IPO with the inspecie value being distributed to shareholders, or it sold outright for a few mill....

We have options... we have leverage.