Ann: Maniema Drilling Update and New Project Evaluation Update, page-117

Well done guys for holding through,

We had what looked like a breakout on our hands, followed by a massive shakeout, but today we have the real deal breakout confirmed.



From a fundamental perspective:
Reading the language from Brewer and Announcements there seems to be essentially more the one acquisition.

So we have three pieces of news in the horizon:
- Acquisition 1
- Secondary acquisition? (cumulative 3Moz)
- Resource Upgrade to 1Moz

Gold also pushing above 1290 too so looks ready for spot to go on a little jog.

If there is any doubt where we could be, I just simply refer to this table and it does the job for me. Still haven't sold a share.

Worst case scenario if the acquisition target is reached we get 3.5Moz and both acquisitions are preliminary stage like that of DDD..if thats the case we trade about 20 EV/JORC ratio.
Which means including for a raise/dilution looking at a bag from these levels.
However as the ann says "Multiple ADVANCED Acquisitions".


Cheers