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Ann: Quarterly Activities Report and Appendix 5B, page-8

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binwood

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05/08/20

20:44

Post #: 46330997
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Originally posted by mineralised ↑

Worth noting that the incoming JV partner Novo is closer to finishing some of its unfinished business in the Pilbara, this probably improves risk appetite and budget for immediate catalyst generation at Malmsbury.

When Quinton Hennigh tells the market he has the target for the next Fosterville (swan zone to be precise) and is about to drill then we should be the rightful beneficiaries of an absolute circus of incoming buyers, queue the promotional podcast circuit.

Look at what he's done at Lion One in Fiji, said there' could be some high grade feeders here, aimed and hit, bang, blue sky and market loves it, they are raising tens of millions at >200m mc, this then enables them to make the next step change. Was really good to see that play out just as he envisioned. Some criticise the speculative nature of the programs or the showmanship, but certainly not Lion One shareholders, and that's the only crowd he needs to please in the end. See also Irving Resources for another good example.

At the same time we have our own very capable team pushing ahead at Mt Coolon / maybe Twin Hills and it sounds like they think White Dam has more to give.

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With gold at all time highs (in nominal terms) there are some crazy opportunities around (well I think they are crazy). If/when Novo take up their option they will be funding our exploration at Malmsbury. White Dam if it lives up expectations will bring in ongoing funds which along with current cash on hand pays for plenty of exploration in Mt Coolon. Novo shares will be worth about A$6.5-7m. EV low $20m's. Won't take much for that blue sky here. Surely can't be too many more placement flippers left

GBZ Price at posting: 10.5¢ Sentiment: Buy Disclosure: Held
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