NVA discovery cost per ounce is anecdotally less than USD $1 per...

NVA discovery cost per ounce is anecdotally less than USD $1 per ounce. That equates to a maximum of AUD $1.45 per ounce.

Let's say AUD $4M of the raised funds are used for drilling and field work then we can do a very simple extrapolation.



From this:

1. So AUD $1.45 is the upper limit on discovery cost per ounce. We don't know enough to narrow down the lower limit.
2. If AUD $4M funds are used for drilling and field work then there is an implication they will add approximately 2.75 Moz subject to the existing resource. That would give us a total resource of 5.25 Moz.

Let's see how they go. They are balancing a number of goals with exploration this year:

1. Improving confidence in the existing resource through infill drilling
2. Expanding the existing resource
3. Drill-testing other targets
4. Proving up resources at other targets