AGM updates, page-23

Interesting stuff

Calibre could be the real company maker for us, still early days yet already at 2.7m ozs of AuEq of which we have 35%.

By way of comparison Capricorn (CMM) only have 2.1m ozs of MRE resources at Karlawinda, graded at 0.8 g/t. They are now producing with a market cap of A$1.06Bn, almost 5 times our own!

Being amenable to shallow open pit mining seems to make a huge difference to the economics. Give an Aussie miner a couple of million ozs in a shallow open pit and he will get you to a billion market cap in double quick time.

Whereas in West Africa, even with higher grades there seems to be some kind of force of gravity pulling them down. Not to mention the weather, politics, terrorism, corruption.....

No doubt there are exceptions but that is just my impression

By the way I wonder if Salpetie could be persuaded to put his tidbits post up on Twitter, where it is less likely to be censored?