Ann: Robust Maiden Resource and Positive Scoping Study Kookynie, page-54

Thats a top question and one Id also like an answer for. I see potential for next drilling to add alot more ounces, and Id like to see a few deep drill holes under swiftsure to see if we can prove up some extension of the high grade. And if tip toe can have a few hits above the 20g/t 50g/t well thatd be real addition to MRE.
The 31g/t for 53k ounces is one of the highest grade lodes I know of close to surface recently discovered.
As Gold price rises hopefully to a level of $ 3600 Aud up to potentially $3800 Aud and the economics as Humphry mentions on this project is Very Strong already ! Robust and can get even better.
Its also known other discoveries have been bought out previously with averages of 15g/t @ 200 k ounces, for $500 an ounce. This is a while ago now too, so I potentially see a possible $700 and higher an ounce buy out as prices have developed greatly since then. A calculated guess @ $40 million above buy out just for the Ounce Dirt Hot spot of 53k ounces.
Then there is the rest of of Swiftsure and the Tip Toe, Valiant and Champion South.
Possibly currently another $25 million value there for a buyer.

This is all roughly calculated and I really appreciated Ploughs tabulated calculations on estimates for costs value and ounces that was very much spot on.

I also agreed with the estimates before MRE I could see a possible 110k for ounces and still do see 100k without conservative estimates.

So roughly I see a value of $70 million as a descent buy out figure. Though to get this the drill bit probably needs to find another high lode of another 20k ounces of higher grade.to really put cherry on top for a buyer. I think this is easily achievable and really more than this can be revealed in time. Also with future drilling below swiftsure.

IMO a SP with above explanations of between 0.018 to 0.23 buy out is achievable. All IMO and I'm only using the research I have at my disposal.

Mr market is the ultimate judge and we need a hungry buyer. Gold price is holding and we have an extremely valuable project.

Like always something is only worth as much as someone's willing to pay for it.

How much is someone willing to pay for our Project?