Soon very good, page-20

Hi Bud. The key to NAGs is it is a specie, with Mkt Cap of about $26m.

The potential Projects that could come off are worth $100Ms each eg a contract to take the NEL PASS could be worth $300m plus (@ $50/T) or a successful Drill Hole would caterpault the Share Price by multiples.

The biggest draw back for Drilling is lack of Capital so only one Drill operating means it's a slow process.

The Heap Leach Pad has about 6m T of saleable material, which at $10/T would be worth $60m but downside is that I think the market is devaluing it based on the presents of Cyanide & Sulphites. If they could remove or stabilise these potential toxins they'd probably sell it off quite quickly.

Another potential Asset is the Gold in the HLP, known as Fines Gold. It's believed to have at least 20k oz which at current Price of Gold ($A2,600) is worth about $52m. Problem is finding a means of extracting it at a price significantly less than $2,600/oz, which to date they haven't found but we are hopeful it will one day happen.

Bottom line Mkt Cap is ~$26m and potential Income Streams are all worth big $s ( eg $300m PASS, $50M Gold Fines, $60M GRAVEL, & unknown millions for a Gold strike.) It will only take one to come off to catapault the SP & that would then fast track the other opportunities.

Finally, the Strategic Partnership with Mawsons Resources could unlock Gold Reserves in Jnt Venture Projects and could one day lead to a Takeover move as they have the 'first right of refusal' to buy out NAGs.

At the end of the day make your own assessment. There is huge potential but no guarantees.