acquisition of wanbanna project

Hi All

I just ran some numbers for fun and looks to me the acqusition is a pretty good price, here is some rough numbers open to opinon of course:

Price paid = 12M GME shares and 2M Options @70c = roughly $8.16M.

15M @ 1% = 150,000 tonnes
80% GME Interest = 120,000 tonnes

Estimate minable ore = 30.5 @ 1.21% = 369,050 tonnes

Obviously buying this piece of land means there are highly likely to be Heap Leachable

Add 120,000 = 120,000/369,050 = 32.5% Increase in resource

That is an extra:

Revenue = AUD $35,000 * 120,000 = $4.2 Billion
Less Expense = $4.2B*.25 = $1.125B
Gross Profit = 4.2-1.125 = $3.075

NPV Assuming 20 years @ 8% = $660M

Less Tax @ 30% = $198M

NPAT = $462M

GME Market Cap = $160M

Fair Value = 462/160 = $2.88

If Heap Leaching is sucessful this aqcusition ALONE is worth $2.88. My calculation could be wrong/Flawed but if you divide this up by 2 its still $1.44. Add in the the other 9 sites and thats equal $$$.

Quaterly report is due anytime now, we see it hit 75cents shouldn't be much longer now till a breakout.

News to come:
Government/environment approval - most likely will happen
Finding Supplier - Will happen but hard to find a good price
Resource upgrade

Once GME finds a suitable partner expect this to jump in the same case as MBN.

GL All still waiting but hopefully it shouldnt be too much longer now.