getting close to asset backing now, page-31

Or another scenario that could be effective both for Exore and one of our neighbours plus create undiluted share holder value could be to JV with Barrick or Pursius only on this Bagoe project.

Now that there is an underlying initial resource estimate and with so much more potential then it would surprise me if our neighbours aren't already keeping a close eye on our progress. Both Barrick and Pursius would understand the local geology and probably already have a rough idea of the potential size at play here, add to that they have crushing / circuit infrastructure in place then there is a large capital costs savings. If they stumped up with cash to drill through to a resource estimation something in the vicinity of 2 million ounces then we'd have something big enough to profit share

In the mean time we could spend our cash on further exploration of either or both Liberty and Tengrela. Looking at old announcements both of these have also had some decent near surface gold hits. Liberty 2 has had numerous 12metre and an 18metre hit and Tengrela has had a 40metre hit and 14 metre hit. With gold hits that long just from a hand full of drill results I'd imagine either one of these could also grow to a nice stand alone project size and if we already have money coming in from a JV from the bigger Bagoe project then development costs may be partially covered from existing cash............food for thought!