Hi Will & Welcome,NAGs mine site produced about 180,000 oz of...

Hi Will & Welcome,

NAGs mine site produced about 180,000 oz of Surface Gold (Oxidised Gold) about 20 yrs ago (then owned by Pereverence). NAGs then discovered Wandean in 2014 with similar amounts of Surface Oxidised Gold (about 180k oz.) as the original mine. BUT NAGs has since sat on Wandean to go after & explore for the Deeper Sulphide Gold with the potential of millions of oz rather than tens of thousands.

The reason they did that is because Fosterville's history is almost exactly the same and when they went deep, they struck bonanza gold @ incredible grades about 3 years ago and are now Mining more Gold pa than the surface gold mined in it's 10 year life span.

NAGs management believes there is another Fosterville (or three) to be found in their tenements (2,400sq km of ELs). They have only drilled 7 holes but each hole is narrowing the focus - they believe and it's just a matter of time. KLA took lots of Drilling to hit goid grades & the Swan Zone but the kept at it - 20, 30 + .... but they are now making a Profit of $2-$3m per DAY ($750m to $1b profit pa).

That's a yearly profit of 30x NAGs Market Cap.

So if NAGs is right the Market Cap of $31m will probably go beyond $1B ... but are they right? That's for you to decide? If they are right then the Share Price is likely to go up by 30x on the scenario I just gave - from 7c to $2.

If they are wrong then let's go back and Mine Wandean/Clonbinane - 180k oz at $1k profit/oz is $180m profit. Not a bad fall back for a $31m Mark Cap Co .... imo anyway.