almost over, page-32

yesiknowable,

You are correct with the price of gold,

But my assessment is made from information available from the WA Dept of Mines.

They have managed to extract info on approx 25 drill holes, most intersections are shallow (Sub 100m)

My research indicates there are hundreds of drill holes based on the Mines Dept Reports and probably sometning like 700 which is confirmed by the drill home numbering (eg MRB655, MRB691). Which would make a drilling success rate of 3.5%. I can only assume that the remaining 675 drill holes were used to test the positive results as announced by EMG with negtative or poor results achieved from additional drill holes for the possible extensions N, S, E, W or at depth. In total they only managed an indicated resource of 113,000 tonnes at 3.1 g/t for slightly more for 10,000 oz.

Whilst 10,000 oz were not economic in the 90's, I am reasonably certain that this total resource (with little upside given the number of holes drilled) is still uneconomical and to put in perspective this resource is less than 1 months feedstock for the plutonic gold mine owned by Barrick just down the road.

Given these clowns have taken the market cap from 20M to 2M what do you think an gold insitu value of $17M is really worth - especially given that as I believe these published results have been well tested and there is little upside to the drill results.

With so many previous drill holes I believe there is little need to use the recent rights issue cash for more drilling. Maybe they could periodically release the results from the other 675 drill holes.

yesiknowable, I hope these facts help you but really wish the "management" would be honest, transparent and not give out potentially misleading and manipulative information.
We all know the board and management arent up to it, but what we really want to know is there any assets worth anything? and can be leveraged by a new board and management.