Some have asked why the stock has been going up on increasing...

Some have asked why the stock has been going up on increasing volumes? (hittng a new high in Toronto today)

I have just read the technical report (yes I need to get a life!) and done some research on the company. Page 35 of the report states:-

"NBG exploration (geophysical modelling, geological mapping, surface and underground sampling and drilling) was conducted to define additional resources targets within the Central part of the Bau Goldfield (Tenement Block A). These results were reviewed and geological potential for a further, 3.3 ? 4.5 Moz gold was identified in additional areas and extensions to known resources"

This is additional to the 1.6 Moz they already have.

(It should be noted that some of these ounces are refractory)

So we have an existing producer with a low market cap/ounce generating cash to fund ongoing development and exploration.

Sounds very similar to SLR with their existing operations near Kal and their 5 Moz target at Murchison.

This strategy means minimal dilution to shareholders but will be a slow and steady increase in resources and production.