compares well to similar goldies.

I have compared this one to WWI, SXG, MOY and it looks pretty good. Though I must say SXG is probably good as well and WWI is a worthwhile play due to the fact that infrastructure is close and mining is not very far away, plus it is in SA with cheaper labour etc.

Anyway still don't understand why this sp is so low given 700 000 ounces, with a lot of upside, and apparently processing facilities already on site.

Background
Convergent Minerals Ltd (The “Company” or “Convergent”) announced that estimates of the gold
resources at the Bounty Project had been updated following an ongoing review of project economics
and strengthening commodity prices. This is the first such resource estimation using lower cut-off
grades since mining operations were terminated in 2001. Based on these revised parameters the gold
endowment at Bounty now stands at 12.6Mt at a grade of 1.74g/t Au for 703,000 ounces.
Importantly the revised project economics highlight the fact that much of the existing resource base is
located near surface and can be mined by the cutback of existing pits using established infrastructure.
A 15,000m reverse circulation drilling programme commenced in June with the aim of increasing the
near surface gold inventory and testing the depth extent of known mineralisation. Successful drilling at
Blue Vein and the discovery of Violet south of Bounty encouraged the Company sufficiently to
continue drilling another 2,000 metres.
Drilling
The drilling program that commenced in June has now been completed. The Company is now focussed
on compiling all data required to update the resource model. This includes the incorporation of
geological logging, assay results, magnetic susceptibility and down-hole EM data.
The Company expects the final assay files to be received from the laboratory within six weeks. Prior to
this modelling will begin on Bush Pig and North Bounty where drilling was completed first.
Later modelling on the Blue Vein deposit and the newly discovered Violet Prospect can be completed
once the last assay results are received by the Company.
SAM Survey
The Company has commissioned a SAM (Sub-Audio Magnetic) survey over an area south of Bounty
an area that is highly prospective for both gold and nickel mineralisation. A SAM survey uses
electrical current to map the electromagnetic response of conductive sub-surface features. This
technique produces high resolution images of conductivity structure in the regolith and bedrock that
will be essential in future drill targeting to find Violet like prospects along strike.