furggie refresher

295,000 ounce gold resource estimated
at Fergusson Island Gameta deposit in PNG

Summary of resource estimate
A summary of the resource estimate is provided in Table 1 below.

Table 1: Estimated Gameta resources

cut off tonnes grade Oz
0.2 24 0.8 617
0.3 19 0.9 550
0.4 16 1.0 514
0.5 13 1.1 460
0.6 10 1.3 418
0.7 8.6 1.4 387
0.8 7.2 1.5 347
0.9 6.0 1.7 328
1.0 5.1 1.8 295

Although currently an Inferred JORG complient resource estimate Goa has 460,000oz @ 0.5g/t cut off grade

If they manage to produce 40,000 oz per annum at a cost of $800 / oz
Thats $36 mill clear a year
GOA worth holding on to IMO only
This is the most exciting announcement for me as it will provide the potential for the company to be self funded and it is this sort of potential which will draw serious investors and from that the share price will move northward.