Great news it's over 40,000oz estimated. As they infill and do...

Great news it's over 40,000oz estimated. As they infill and do further grade analysis, this could increase. My estimate is Wilgeena over 9 months from Mar 2011 will net somewhere in the vicinity of $20m.

The play in my mind was that Wilgeena would fund the rest... and looks like it's playing out. nice!

If they are able to increase Hermes from 131,000 to (est) 250,000oz or even more.... say 300,000oz over the next few months with all their drilling over the past 6 months, then ALY could mine Wilgeena for 20m, and then over the next two years following mine Hermes under a similar agreement with Barrick, and net $100m.

Some quick calcs show it's very doable.... so at say 100million shares after options exercised in June, they could net $1 per share in cash in the next say 3 years.

Lets see what next 7 weeks hold whilst the options hang in the balance, then..... well, your call ;)