Current valuation circa $37M (including $4M for CMO).Valuing...

Current valuation circa $37M (including $4M for CMO).
Valuing Wellington at a similar price to the CMO shareholding means the gold component of the current valuation is circa $30M

Noting, the pending MRE is only for the Sidewell Project (excluding Whiteheads)

At $75 per ounce in ground Mr Market is currently punting on there being 400,000 ounces (across both Sidewell and Whiteheads exploration sites)
At $100 per ounce in ground Mr Market is currently punting on there being 300,000 ounces (across both Sidewell and Whiteheads exploration sites)
After the Sidewell MRE is released the full picture still won't be fully known until the MRE for Whiteheads is released.

Anything north of 300,00 ounces should be positively received when considered against the big picture but again Mr Market will be the best judge of that.