Ann: Successful Bulletin Drilling Provides Resource Upgrade, page-2

Fantastic response to placement...only 9.9 % discount...little dilution....small number of shares now on issue compared to peers... our next 100kozpa producer at under $1!!!!!!..this stock will soar over next month ...fast track plant with capital funds without need to draw down on Orion finance that is also available after successful DME site visit and imminent govt approval to commence. To think this company paid $2m to the Administrators for a $200m plant when Apex Mining went into administration. The cost of refurbishment looks to be under $20m !!! amazing..Also all previous owners of the Wiluna project have missed magnificent Matilda reserve!! Whoever negotiated the deal with the Administrators must have had good knowledge of the available pot of gold at Matilda....this is one of the good ones.. My workings at 100kozpa at $1600 POG , $1200 AISC and a PE multiple of 8 times gives this stock a minimum share price of $1.06 which includes the current issued cap of 200m, plus current placement of 50m shares plus options of 50m shares..full issued cap of 300m shares.