Birdmanz - it's best case because I used the gold spot price....

Birdmanz - it's best case because I used the gold spot price. That is, if there's gold then it assumes all of it comes out of the ground and is sold immediately at that date's price, which isn't realistic (unless FNT locks in a massive hedge which is almost equally unrealistic). We're dealing with what-ifs here, so equally, on that basis, I'd consider any value at all a pretty optimistic case.

A conservative fella might use the long-medium term avg gold price to value the potential deposit. Peter says he'd be happy with 0.5g/tonne, so that's what I shot for. No use pumping the valuation anymore for 1g, cos either result will see the share price multiply.