Again @binwood I dont take issue with your chain of thoughts BUT...

Again @binwood

I dont take issue with your chain of thoughts BUT again your using the "proposed minimum milestone" and NOT what it appears it will be given the 20km2 footprint that has ALREADY been established.

So based on "what we know" - We have a 20km footprint with the first 8 assays come in around 90% over the visuals at an average of around 5.2%.What we also know is the second, third and fourth lot of visuals in this order are higher every time peaking at an average of around 3.82%.
It is clearly stated that by the Geo that the visuals were on the conservative side BUT by this much i dont think anyone has yet to value or realise

Based again on your views then YES they (the 160 Million) are going to be issued but not on 350 Million at 5% but on far closer to the 1.8 Billion (using ur same maths) at a north of 6%. (FROM SURFACE)

.Again i ask you what is this worth?

My view based on REAL WORLD Pier analysis is this has to be close to 100 Million MC. Which again is 4-6 cents. MINIMUM. and with exploration upside. What is also clear is that ALL of these results will be out in the next 3-4 weeks so the above "theories" can be quantified and given the data that sits in front of us to date I think is very very feasible if not likely.

Cheers again all.