Ann: Spectacular intersection extends Mulga Bill high-grade vein, page-47

What people seem to look past is that inflation has tripled since this time last year. Yet our SP has remained roughly the same.
Yes, we have had great hits, and yes we are undervalued.
But what is fair value at the moment??

Economies for a gold project are tough at the moment, with short term borrowing rates, inflation eating into our 6mill of cash, and the gold price not being where it has projected to be.

All the 'research' I have done;

1. Gold price is very late to react to CPI ... and in about 6-9 months I expect a sharp increase north to a min of $2,500/o.
Yes, there were people projecting $3,000-$5,000/o and this has not happened.
Once we start heading north, this will be reflected in gold projects, but also retail investors then taking notice to gold stocks and then the snowball effect happening.

2. At current borrowing rates ... or working with West Gold on developing a mine/utilising their equipment, cost will be up there to do so at present... so as it stands, we are in the perfect timeframe for uncovering our gold veins, size of Mulga, and size of the low HG in Ironbark ahead of inflation dropping back down to manageable levels in 2023.

3. Gone are the days of a quick 20-30%... GBR is easily going to be a Disallowed..
Once we get into Ironbark in 18-24 months, this will be reflected in SP but also fund/help fund the main goal of Mulga, which realistically is still 5 years away.

4. I might go into hiding for the next few months as short term fluctuation of GBR should be ignored.

5. We should have an announcement out of Mulga every month for the rest of the year, with most recent holes pending to come out any week now (possibly this week).

6. If you are complaining about the price, but believe in the stock, management and projections of the business. Simple. Buy more.

7. Average down.