The company basically gets us for free... What an absolute...

The company basically gets us for free...

What an absolute disgrace of an offer. It couldn't be more than a slap in the face. Pay up if you want us. This company has serious potential.

The directors better reject this offer.

EV= 600k at 3.5 cents.

Either way that's dirt cheap for a gold explorer looking for an acquisition, backed by some serious shareholders, and drilling Wonder East (a free exploration play that could unearth another gold mine next to the project just sold for $8.5 million).

A few good results and this EV should hit - at least - $4-5 million. That's about a 5 cent share price. But this could easily be a multi-bagger with some thicker intersections and a decent project acquisition. Peter Cook to come on as non-ED as well, in my opinion, based on his shareholder filings.

Buying at this level is a no brainer. The risk is that gold crashes and SAR goes to 50 cents and halves our bank balance. Other than that, blue sky potential. 8 cents per share is an EV of $11.5 million. That could easily happen with a decent acquisition and if the gold price holds up. Founding directors seriously under water with a buy-in at 25 cents. The money invested at this level knows what's going on here. We have no idea. So just enjoy the ride.