Ann: Outstanding Results from Drilling at Hualilan Gold Project, page-7

We have around 2.1m in ARG at the moment (initial MRE) - next move likely to be to around 3.0m (upcoming MRE update) then perhaps more once they complete the last 60,000m of infill drilling & get the assays back. They may then come back for more money to drill the "2nd deposit"

ECU is anyone's guess at this stage but they would have to be looking for at least 5.0m given the "over the hill neighbour" (& I am not really into "nearology") has 15.0m oz!!!

POG at $US1950 is around $A2900 & KK attributes in the ground value of (if I remember) gold at $US140-150/oz so 8m oz = $US1.12b at $140/oz (or $A1.7b)

SOI according to last presentation = 1.045m shares so current MC is $120.2m

That's a big truckload shy of $1.7b

$A1.7m = $1.62/share

So something is not right!!!!!!!