I have prepared a graph of the impact of increases in the Ag...

I have prepared a graph of the impact of increases in the Ag price on the valuations per share of PMY prepared by Euroz and Rawson Lewis. They are remarkably consistent. All other price assumptions are unchanged. They are both largely only valuing the Company on the basis of the resources subject to the current SORBY Hills Mine plan and covered by the OPFS. Euroz has added $20M upside from exploration net of corporate costs only.

I have then overlaid the estimated value per share of the Ag Eq Resources in the Ground, using the @goldbear77 method. I have assumed that at US$27 the value of the Ag Eq ounces in the ground is $3 AUD. Then for increases above that I have added only 10% of the value increase - seems conservative to me. And still this is only based on exploration already done, with plenty of upside to come.

The results are good.

V

Euroz Valuation 25 August 2020
Rawson Lewis 14 September 2020
Both are posted on the Pacifico Website.
I used the sensitivity analysis provided in the reports by each.
V