announcement, page-11

I still cant work this one out. Obviously there havent been the >1g/t .50% copper results (over hundreds of metres) we have all been hoping for but the sheer size of the deposit may overwhelm even these modest grades. A quick disclaimer that this is all pure estimation by me but assuming say 500 million tonnes of rock over the entire deposit even at .3g/t .10% copper we are looking at 5m ozs of gold and 500,000 tonnes of copper! Judging by the consistent grades from top to bottom of all the holes currently released it seems likely that a significant area of Andewa will produce close to these grades so this scenario isnt as far fetched as it may seem. Running these numbers through at $1600/oz and $6200/tonne gives a mineral worth of over $10B.

The next question of course is how much will it cost to develop a project like Andewa if this is the case? I have no idea but Im guessing it would be hundreds of millions of dollars potentially even more.... so its obvious that FNT has no chance of tackling it by themselves. That is where the JV will come in very nicely as we will need a partner capable of financing an operation of this scale and able to invest a large amount of capital before seeing returns. While the drilling results so far have been underwhelming to the market perhaps to a major miner these types of figures are more than enough to commit to a project. Time will tell and regardless of the result it will be an exciting week for all holders.

Please feel free to offer constructive criticism of these figures and assumptions as they are all very much estimations.