Ann: Highest Grade Intercepts Returned From Drilling-CDV.AX, page-102

Just on comparisons.

In Feb 2015 the Canadian company SEMAFCO took over Orbis Gold for A$0.713 per share (~A$180 million).

USD price of gold at the time was US$1,230.

Orbis held the Natougou Gold Project and Nabanga Gold Project in Burkina Faso at the time which were undeveloped resources.

Natougou
7.1Mt at 5.1 g/t Au for 1.2 million ozs (indicated) and 11Mt at 2.3 g/t Au for 0.8 million ozs (inferred)

Nabanga

3.2Mt at 6.5 g/t Au for 0.66 million ozs (inferred).

Based on the total 2.66 million ozs that's A$67.6/oz in ground value.

Going on the indicated resource only of 1.2 million ozs that's ~A$150/oz in ground value.

Ghana would be classed as a safer jurisdiction than Burkina Faso and the Orbis transaction was not concluded at a buoyant time for the gold sector, so could be considered cheap relative to the present climate. Eshmun