Ann: First RC Drilling Delivers High-Grade Gold at Gogbala South, page-10

wont see much of a share price increase from infill and expansion drilling programs. market is pricing this in as the shallow high grade results are the same old news. rerating from this point forward will be announcing a higher resource closer to 1.5Moz and with higher measured reserves. additionally, market is discounting for geopolitical reasons and unfortunately taking the share price down due to capital raise.

few indicators that need to be watched:

1. has management done this before in same geological and geographic location? Yes
2. is it a potential 1.5Moz+ project or a small one? high probability over 1.5Moz so better risk reward
3. Is there management stake? Yes
4. Are funds used to increase shareholder value and to develop project? Yes
5. are we looking at shallow high grade hits consistently? Yes (better for open pit mining with lower capex)

I think patience is key here. let the management work. share price it moving as per the Lassonde curve. share price moves will only occur at the next phase of this. this is good news that is banking and catching attention. big players will move in with less risk.