Ann: Primary Updates Rustlers Roost Resource -PGO.AX, page-14

go brexit indeed bonies

former plans without any upgrades are no doubt vastly more profitable in current environment, timing is everything and former management would have loved gold trading at A$1,800/oz for their studies

Dacian are rolling with a $360m market cap on 3Moz resource and feasibility study due end of CY16... for the PGO 1Moz a rough approximation would suggest a market cap closer to $100m would be justifiable. Their project only had 840koz JORC when they picked it up off former owners in 2012.
(from their recent preso below)
• Dacian believed there was substantial scope to grow the resource by applying new
geological theories and techniques
• Dacian’s belief in Mount Morgans’ potential was also underpinned by the lack of
exploration by the project’s previous owners over many decades