Hey BTThat's correct. I'm just using industry averages for...

Hey BT

That's correct. I'm just using industry averages for Australian gold explorers valuations based on their JORC compliant resource as a guide. This average is $135/Oz for an explorer, it increases as they complete their PFS then PFS then go to production.

Once we receive this JORC upgrade from the Canadian NI43-101, even if they dont find another spec of gold and we only get the 2million ounces of gold which was calculated when the price of gold was $300/Oz.

So an estimate for short term price rise to 56c for 2million ounces is what Im aiming for, then as new drilling results occur, further increases. But again Im expecting an Upgrade from this 2million ounces purely on the price of gold increasing from $300 to $950 per ounce that they will use.

But Im expecting them to find more gold, especially if you read between the lines of Mr Promnitz's presentation at the AGM.

Again this is just my IMHO DYOR.

Cheers Nectar