update, page-11

So going by Peter's statements RE holes 2, 3, 4 on pad 2 and the potential 140m tonnes in the rectangle he speaks of, if assays confirmed 0.5 grams/tonne then there would be 70m grams......

My calculations (using the spot price per tonne of A$1,725, which of course is subject to volatility and highly irresponsible!) would suggest the following market value for that rectangle:

$1725 x 1 ounce/31.10 grams = $55.47/gram ->

Total Mkt Value = $55.47/gram * 70m = $3,882million

FNT Mkt Cap today = $65m

These are back of the envelope, blue sky, best case, thumb in the air values of course. But this suggests a hell of a lot of upside....

I admit a certain ignorance re drilling and resource company valuations, so please do point out any errors both for my benefit and that of any others whom may be reading this!

DYOR