Ann: Resources Rising Stars Conference Presentation, page-13

I thought this was most interesting from the Patersons research note:

Three things to watch for EGA's valuation, Grade, Gold price and FX (AUD/USD).

I'm bullish on Gold, bearish on AUD and neutral on grade.

If the AUD drops to 67.5c area (property correction?), EGA is worth closer to 74c, if gold goes closer to $1400 and AUD drops to 67.5c EGA is worth closer to 0.90c as it stands today. Not an implausible scenario in the coming years.

And this excludes any exploration success, which has the most potential to add significant value IMO.

GLTAH