Jinkas South lode section, currently being drilled extends for 750 meters. Speculative back of envelope guesstimate for recently drilled section extending over 100 meters is 60m (depth) x 100m (strike length) x 60m width = 1,000,000 tonnes. Assume for 750 m = 7,500,000 tonnes @ 1g/t au = 250,000 gold ounces / 1.5 g/t au = 375,000 gold ounces / 1.75 g/t au = 437,500 gold ounces.
So first round of announced drilling puts us at 1.2M ounces (JORC) plus 250,000 ounces (base guesstimate) for a total of 1.45M - 1.637M ounces gold (speculative, subject to confirmation.
Assume 1.5M ounces x $100 - $150 EV per ounce = $150,000,000 - $225,000,000 or 10.7 - 16.1 cents per share. Good luck to all longs.
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