Just how high can we go?, page-2

How high can we go?Short term, a hit at Yarindury could send us into the stratosphere. I am partly holding for that, just in case.

My buying scenario is that SB builds a 20% holding via placements. We hit our high just before the 2nd anniversary of the JV, caused by SB making a takeover offer for us. I'm hoping history repeats. SB latest takeover was Atlantic Gold, which I owned from originally being listed here. A script offer would suit me fine.

We are mentioned in SB's presentation 24 July 2019. The Horn Island JV is shown as a project close to moving from Exploration to Feasibility. However, SB's June 2019 Quarterly states the first $500k spend has not even started yet - "Subject to access, a first year work program of soil sampling and ground IP geophysics is planned in close proximity to the historical open cut pit and Alice Queen's mineral resource." Early days.There are extra factors to be weighed when valuing Alice Queen, but even allowing for those I think we're trading way too cheaply given this A$ gold price.