gold mountain underneath, page-7

Yes I too think $5 may be a bit high, when $3.50 is probably nearer the mark, given that NPV is the subject at hand.

According to their April presentation the NPV on the resource base they have used is about $1.18 per share, however this declaration seems to understate things by several orders of magnitude. At least if one goes to the trouble of totting up resource statements in prior ASX releases.

The point is, the company have understated resources by taking a super conservative stance. No crime here, however, go the other way with overstatements and authorities take a dim view.

Further, if one takes the trouble to read the Apr release, it will be found GFA can purchase a further 24% of the JV area based on the NPV

Logically then, do some more drilling to prove up the resource base and the NPV. Which means GFA have to pay more


No doubt appreciating the game at hand is too hard for many, however the price action over the last few months should speak for itself.

Unfortunately a few don't get it.