Ann: Heads of Agreement to Acquire 80% of Gold Ridge Mine/Project, page-32

Happycats, seems evn has just bought cowal mine for $700 mil. The reserve

1. At 31 December 2014 Cowal had Mineral Resources (including Ore Reserves) of 94.5 million tonnes grading 1.1g/t gold for ounces 3.4 million8 ounces and Ore Reserves of 41.5 million tonnes grading 1.2g/t gold for 1.6 million8 ounces.
   
   
   FNT gold ridge 80% entry for $80 with reserve of
   
   Total Mineral Resources were estimated to contain 3.18 million ounces of gold, within 64.2 million tonnes grading 1.5 g/t gold
   Total Ore Reserves were estimated to contain 0.67 million ounces of gold, within 14.6 million tonnes grading 1.4 g/t gold
   
   Of course sovereign risk and cost to extract Would be higher for Fnt but it seems a bit of consolidation going on for smaller scale gold mines meaning some see the pog increasing. Seems a great calculated acquisition.
   
   Interesting to hear their ongoing plans. May we'll drill away with their own rigs, increase the ore body with new finds and then sell off/jv to a more experienced miner for strong gains....
   Would think Peter would be looking at the potential value in the ground to be found rather than just what is there at present.