Ann: EXCEPTIONAL WIDTHS AND GRADES FROM MAIDEN DRILLING PROGRAM, page-41

I do not think it will go that high in near term but who knows. Just had good look at numbers and whole announcement. Three things catches me positively, despite market reaction, but it happens with crowd that looks for quick money.

Southern part - just as good with grade increase to north side. Nice consistent, giving resource and high grade.

North part - a bit lower than expected of bullish traders, but amazingly close to to surface. This is where it actually differs from AVL, which has that grade of thickness only at below 70 m mostly. This is where mine will start for sure.

Overall numbers - at this stage we are looking 25-30 M @ 1.1-1.15 for high grade and may give or take another 15-30M in low grade. With further drilling of another longitudinal row, making 4 holes in each traverse, will extend resource another 50 m and will result in additional 20M plus some infill especially in northern area will increase resource - making it 75-90M altogether.

No brainer AVL and TMT should be merged for greater synergy for sure. Still good value even with 50 M shares - 15M MCap with 3M +3.75M (cash from exercised option) - it EV is just above 7M.