deep 1000m drilling to find higrade gold!, page-7

Nah dont worry about it.

They will drill the 10,000m over the next 6 months, then build up a JORC resource assuming 3-5million ounces. Which will increase the share price to 20-30c.

Using a simple $150 per tonne Enterprise Value, assuming worse case scenario 3million ounces after the 10,000m drilling program:

$150 x 3million = $450m EV

Share Price = $450m / 1.4Billion shares
Share Price = $0.32c

Then they only have to issue another 100m shares to get $20-30m for the 50,000m of drilling and really build up the resource. I am assuming that the Sao Chico mine doesnt enter operation and neither does the high grade small scale mine in Crater Mountain as a worse case scenario.

BTW Georisk are you still with us?

Cheers Nectar