The Real Deal!, page-5

"Wave average" = weighted average imo.

I would also presume the relevant length is the downhole length within the respective shaded zones.....the 'width' .

I also draw your attention Thunder to my comments yesterday about the top hole on Section I that there is indeed some gold in the upper metres of NMDD 420-756.......might even average 0.3 - 0.4 g/t?

@ Upmarket - re the 60c - that's the NPV i imagine that their model spits out.....using those parameters ie 1.5m oz, 175k ox pa, 1.3 g/t etc.

I'd rather apply a loose, more holistic approach - even at USD 100/oz - on a 1.5m oz resource = USD150m.

On 340m shares, you could do - 150 /0.72 (AUD) + 17.64 (option exercise) / 340 = 0.66 or 66c ......

Same ball park.

But it gets interesting if you look at a 3m oz resource, and/or a buy out multiple in the USD150-200/oz range (it went even higher in the last big gold 'run')?