Valuation, page-136

That's a great announcement today actually and one that I've been sweating on for a while as I'm sure a few have too.

$3m payment is a lot of money for a Company that's currently valued at $2m.

The $3m payment though reminds us how undervalued MNC is as the Quinchia project acquisition cost was (from top of my head) $7m plus another $7m in royalties.

So bare minimum that the project was worth at time of purchase was $14m with obviously plenty of additional money sunk into the ground in exploration since then.

Makes you wonder about the current $2m market cap and the potential upside once some money comes in for Chuscal drilling and hopefully bigger CR's down the track at higher prices assuming everything goes to plan.

Current ~3Moz + likely minimum another 3Moz from Chuscal alone to come.

$2m market cap.

Cheers,

GB.