I think the resource upgrade will define a new resource of "1.8m to 2m ounces"
A resource of 1.8m ounces would value the resource at about AUD$1.65b.
This will increase next year also. By the time the resource is mostly measured and all other untested mineralisation zones have been drilled, a reserve of 2.5m to 3m ounces would not surprise. There are 9 zones which have not been tested and Mt Henry has also some mineralisation continuity which has not been tested
Gold will be US$1000 at some stage next year so we could be sitting on a resource valued at up to $3b
The current mkt cap is $40m
KAL Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
