extentions

Hi peoples
yes we are in lmbo for now
we still have results coming and another 1000m hole to come after nev30
previously defined area of 150x400x150x2.5(SG)=22.5Mt (so I am out a little)
report [email protected]/t = 790,000oz Au

they have stated that the extensions ths far are 200m to the south and 500m deep.\!!

mmm lets see

150x350x650x2.5(SG)=85.3Mt
lets assume the 1.0g/t drops to 0.8g/t
[email protected]/t=68250000gAu (28.34g/oz)

This will give us a resource of around 2.4Moz

If there is a further extension to the NW by a further 200m

=134Mt @0.8g/t=107250000gAu = Approx 3.8Moz
that is if the 500m extension is valid for the extensions
which may also be in tiself extended further

So what sort of share price should we have for a 3 Moz resource

this is excluding Furguson which is around 0.5Moz or more

not including the Alluvial field
not including the poryphery zone
who knows what is there but there has to be something
the poryphery zone they think is multi layered
and deeper drilling may yet uncover the feeder zone
maybe not NEV 30 but maybe the next 1000m hole

the shares and oppies are currently over sold

Yes I am concerned as anyone else and its hard to remain posative
But I always go back to the fundamentals and there has been no change there

if the resource is 3Moz

thats 5 bill dollars in gold in the ground @current gold prices
Allowing for $850/oz extraxion which is rather high
that still leaves 2.7bill clear

the company now owns 80% of that and maybe 90% depending on courts ruling

@80% thats 2.2 bill dollars

Now I realise that getting it out of the grouond is the dellema

If some larger gold company comes in and wants 80% farm in
which will be good for us
that still leaves GOA valued @432mill
lets say that post CR and option conversion nuber of shares are 2.5 bill
each share still could be worths around 0.17

So IMO this is still a good time to get in
and there is possible upside prior to june
and am expecting the SP to be above 0.03 possibly around 0.04-0.07 which is being conservative.

All of the above is IMO only
please do your own resarch
and if you have opinions on my working please let me know i enjoy a good conversation

cheers