announcement, page-6

The 30m X 3m X 0.8m M2 stope is todays ann is in the process of yielding $A0.5M of gold. Perhaps its 500+oz have already been extracted but this one 20cm vein extends over a strike of more than 800m and is open at depth, probably at least 500m deep. To be overly cautious, in line with the current market, I'm going to calculate the gold in this one vein for just 300m along strike and 100m down dip. The size of the sample mined so far is almost certainly representative of the whole vein but I'm going to discount it by 50%.

So we have $A250k of gold extracted from the A2 X 300/30 X 100/3 = $A82.5M. The total discount I have applied to this one vein of gold bearing quartz comes to a massive 30X. Just for interest if I take out this discount, the value of the gold in the M2 come to $A2.475B, almost two and a half billion dollars of gold in just one vein, 800m long, 500m deep in a system that is 30km long and mineralised to an unknown depth but almost certainly deeper than 1,000m.

Meanwhile you can buy the shares for 17.5c and the oppies for a cent. For me, exercising HEGO is a no brainer. It will be the best value I get out of $75k for a long while.