Not sure how far you read, but I think @sydneysider is referring to page 4:
"Based on a gold price of A$1,800/oz (currently $1,770/oz), the extension of mine life from 3 to 6 years increases our valuation from $0.044/sh to $0.091/sh. If AYC was successful in extending the A1 Mine to 10 years, this would further increase our valuation to $0.155/sh."
Not sure how far you read, but I think @sydneysider is referring...
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