Ann: Reefton Goldfield Exploration Update Presentation, page-34

Given what SNG has discovered to date, the market cap should be between $85million and $100million. (Share price between $1.05 and $1.25)

I personally think SNG just needs a catalyst announcement and it will lift aggressively.

A major announcement like Maiden JORC Release, (even a 200k-250k Oz at 5-6g/t as a starting point, then multiple upgrades in the coming months as the next drilling program starts), Mining License Application, Mining License Approval, Gold Streaming Loan/CR to production.

Any major fundamental catalyst like the ones listed above, would see a significant value of the gold in the ground, reflected in the market cap and share price. IMHO.