Ann: Wallbrook Exploration Target & Mineral Resource Estimate, page-149

Last 12 calendar months it cost NST about $325 per ounce ($175oz exploration, $152/oz in capital growth) to increase resource at Carosue Dam.

It cost NXM about $24/oz for the whole Exploration Target and $88 per ounce for current MRE.

I have said my bit about the confidence levels, mineability, ease of processing and compared to other inferred resources that are less mineable/economic/confidence than the total MRE announced by NXM. People often wondered on here why other companies' under-lake, "big" resources sold for very cheap to SBM/RMS.

The upshot is this: higher value MRE and Exploration Target ounces may well attract a decent per ounce purchase price by NST or someone else.

The other thing I would say is that I have been around here long enough to remember feeling the same about buying NXM when this happened



before this happened



And I am fairly sure there were a number of the same whiners around back then too