Ann: Increased Resource at Murchison Gold Project, page-30

re: Ann: Increased Resource at Murchison Gold... And let's not forget that the project with sovereign risk is basically given 0 value in the SP. So it's not that much of a risk at all!

Murchison is not a company maker but once we drill out the Authaal pits we should have enough low grade ore to justify a heap leach operation with cash costs about $500-550/oz as per the scoping study. So stage 1 and 2 combined could end up being under $900/oz for approx 44koz pa. So even with gold at $1500, that should generate over 26m profit (before taxes) pa.