multi million ounce potential, page-25

Looking very strong with minimal volume and a slow tick up holding at around 70c...

So we're talking a potential maiden JORC of over 500koz with a current MC of $88m

If we apply an inground value of say $40/oz you would expect the market would value CHZ at $200m. Taking into consideration we are only half way through the current drilling campaign and even after that we would only have covered less than half the prospective area...the market may apply a value to that and up the base case JORC to say 40% more for the next JORC, so a potetnial initial JORC MC of around $280m. Now we are burning money so without another CR or JV the next stage of Scoping and BFS will dilulte...either way we are looking at close to a $200m MC which is 1.2 times current sp, so potential of a $1.60 sp??

Interested in others views on this??

Jazzza