PFS has 34,000 Ounces in the Measured category, i.e. 6%. 541,000...

PFS has 34,000 Ounces in the Measured category, i.e. 6%.
541,000 Ounces in the Indicated or Inferred categories, i.e. 94%.
Sounds like they have a lot more drilling to do.
I like the Potential Exploration Drive offshoots in Figure 2.

Let me quote UBS Global Research 22 February 2016:
Upside scenario
Other than gold price, mine life extension has the one of most
immediate upside potential. Adding an underground
development, we estimate producing circa 100kozpa over a 7-
year period, would add ~A$0.12/sh to our NPV.

Now we have the actual PFS.
Gives 310,000 ounces with LOM 7-8 years.
That's 39-44kozpa, in proportion worth ~A$0.05/sh to our NPV.
Way below UBS expectations of 100kozpa.

CAPEX is low. IMHO more drilling required before bothering with a scaled up DFS.
At least they have decent drilling program underway.

No surprise Oxides extend deep. Weathering is high because of the high rainfall.
Follow the trend line to West Africa when the Continents were joined together.
We're in amongst the good stuff.
My take is this is early days. Lots of water to flow under the Bridge.

My average entry price is 0.153.
Bus ticket valid till the end of the line.