15% at 20.4Moz = 3.06MozIf they are targeting 100Mz then the...

15% at 20.4Moz = 3.06Moz

If they are targeting 100Mz then the upside is still another 79.6Moz

Lets not take any of the upside

In ground value for 1oz for an inferred status would be $US60 per ounce (anyone can clarify this would be great)

3.06*60 = $183.60 million
60million@20cents options = $12 million

Total Value = $195.60 million

Fully Dilited - 185 million shares

Value- $1.05 per share

Interestign how they quoted that a corporate deal was "Imminent".

This company has strange ways of reporting announcements.

Last time they said it may take 1-2 weeks and there was no update for like 2 months

ASX should review the way companies make announcements if they are to have any credibility IMHO