I think people also forget this is capped at $30M, not $350M...

I think people also forget this is capped at $30M, not $350M like some of our peer valuations such as EVN's Mt Rawdon (1Mozs open cut @ 1g/t).

For $30M, you are buying:-

- $21M JV funding across 10 tenements for 30%
- 80% PMR about to commence sedex campaign drilling
- SOC's 100% owned tenements like EL6483 which is high grade
- Mt Adrah which 3rd party state 3.2 - 4.6Mozs already

By all means if this was capped at $300M then this 'debate' would be relevant.

But you are paying nothing for Mt Adrah IMO and with no upside priced into the current SP, why qualm ?

So yes fengshoey, IMO we will see a minimum grade of 1.3g/t in the open pit (very likely higher should they continue to encounter visible free gold). I also personally think this deposit will easily be in excess of 10Mozs, through the combination of several pipes running at minimum 1.3g/t and the blending of the 0.6g/t skarn in between. Whilst I personally can justify the capex on a single pipe (by putting a plant together as opposed to funding a new one), a few geos I have spoken to (who are very conservative), are seeking an additional pipe to make the capex spend a 'sure bet'.

That is my take from reviewing the historic and current data. I called this to be 3Moz+ after only seeing the 313m @ 1.42g/t and Geosun came in and increased that, so let's see how I fair with the above call over the next few weeks.

Will be quickly validated one way or the other on GHD006 and 3DIP I think all agree.

If Fengshoey has a difference of opinion then he is entitled to that, but I won't throw mud at other posters nor the geos to try to prove a point.