Question: If the resource is 1.5 million ounces at say 2 g/t...

Question: If the resource is 1.5 million ounces at say 2 g/t (seems a fairly reasonable result based on expectations) what would you expect the market capitalisation to be?

PIR has 250 million shares on issue. The options expire in December so by then will have issued shares of approx 300 million.

Based on a value guide of $150 per resource ounce market cap would be $375 million which is a share price of $1.25.

Seems to me the market is expecting a resource of 1.5 to 2 million ounces at 2g/t.

If that is the case PIR will probably pick up 10% in value.

With new management in place surely we will not have any more resource "upgrade" bombshells ???