Hi Jacks, Some basic assumptions need to be made because they...

Hi Jacks,

Some basic assumptions need to be made because they currently have 1M oz inferred resource at Sam's Creek and MOD have said that they will recalculate this based upon 2g/t cut off.

It is not possible to know how much gold can be extracted based upon this new cut off, but for the sake of my calculation I assume they end up with a measured resource of 350,000 ozs.



The other way to calculate is to take 1M ozs at $10 per oz = $8M.

This cash would let them repay the loan to SHL and keep on drilling in Botswana, hopefully by that time the investment climate will have improved.

Sometimes I do much more research before I buy, but other times I try to keep it simple.