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Hi Kizo

Lion GOLD paid $49/OZ resource for SBL(1.47million [email protected]/tonne including a 350t/pa mill plus other exploration areas within AFRICA).

The SBL mill was a second hand and therefore is close to ZERO value

Having that in mind, SBL resource doesn't all fall in the same mining area.

RAU resource is within one area with a capex of approx $135million.

I believe the cost is very similar in both countries at approx $400/ounce.

If we assume a price of $30-50/OZ resource then we could came with a close figure $40million to 65 million without the latest drill results if any substantial increase to 1.3 million ounces.


hope this helps

bouhr