Ann: Wamum Tenement Granted, page-6

Happy to have purchased and become a holder of CBY. Would have been nice to know about this exciting company a few weeks ago but it has been flying under the radar.

Circa $17 million market cap with a significant resource of 3.16Moz Au and 762kt Cu across two projects.

Yes, it is low grade and a low cut off was used for the JORC resource IMO and also jurisdiction risks with the project located at PNG must be raised. But none the less, $17 million MC with that resource is significant value, possibly one of the lowest EV/an ounce of gold equivalent on the ASX. Gold prices expected to rise with the trillion dollar stimulus packages and constant printing of money and copper prices already rising significantly last few months will help add robust project economics.

Will be a cap raising soon with just over $1 million in the bank but with the recent share price, it will lower dilution which is good.

Hopefully drill and build up the resource through to a scoping study and then secure a JV with a top tier company to progress it quicker and provide the capital or a large percentage of it.

All the best to all holders.