450mt magnetite & 50 cents short term target

hi

time to poke around & press some buttons

136,906,250 shares fully diluted

81,756,250 shares

7,125,000 performance shares

48,025,000 options worth $12,596,250 in cash

targeting a near term inferred resource at Ondjou prospect

10km strike potential

Drilling extends strike length by 1,000m+ to 3,600m

Average down hole length of mineralisation 90m at 25% Fe

60% hematite is 3 tonnes per 1km x 1km x 1 metre

i know nothing about measuring magnetite but the JORCs i have just read (EMG & GIR) are using density factors of 2.7 to 3.4

width is 600 metres (say 500m wide). length is 3,600m. average depth 90 metres

my wild guess for the Ondjou JORC to be announced next week is 2.7 density factor x 3,600 x 500 x 90 = 437m tonnes

repeating using hematite method is 3.6 x 0.5 x 90 x 3 = 486m tonnes

magnetite resource worth 10 to 20 cents per JORC resource tonne

@ 15 cents per tonne, market cap is worth $68m or 49 cents per share for 450m tonnes at Ondjou

this post is not investment advice

please...DYOR