Ann: Postive Drill Results from Kestanelik Drill , page-6

re: Ann: Postive Drill Results from Kestaneli... Canaccord give an excellent NPV analysis:

http://www.chesserresources.com.au/files/Analyst%20Reports/CGAU_CHZ_16122013.pdf

baseline valuation 50c, however check the sensitivity analysis to give upside targets based on higher gold price and better grades

the current slumber is not unusual in the lifecycle of a junior. The big money is made on initial exploration success, after that it can be tough going until production delivers

The double whammy here was the nasty collapse in the gold price plus the trough phase in this juniors cycle

looking forward the stock will trade higher with higher gold prices and further resource expansion. My experience tells me that juniors get rerated very quickly once the speculative capital flows back into the sector, so 200 to 300% gains over a few months occur in those conditions. I think those condition arise within 12 months.

As an example the 1993/94 bull market saw 500% plus gains over 6 to 9 months in juniors.