I ran a few numbers today, and DIO's Frogs Legs looks like a...

I ran a few numbers today, and DIO's Frogs Legs looks like a solid project. I have compared Dioro's Frogs Legs project with Avoca's Trident Project:

- AVO Trident : 100% owned 4.4 Mt @ 5.7 g/t for 800 koz of Au.

- DIO Frogs Legs : 49% owned 4.56 Mt @ 5.9 g/t for 865 koz of Au. Net 430 kOz to DIO.

Grades and mining method similar, DIO have about 54% of the ounces of AVO, but are only 20% of the market cap of AVO. AVO have more of their ounces in a higher JORC category, but DIO have a lot of new drill results to add to their last resource numbers (above), plus arguably better other prospects including Penfolds gold and nickel plus uranium (yes, AVO do have interests in uranium as well).

AVO market cap is $194M, then 54% of this value is $104M, which is over 2 times the current diluted market cap.

I hold both AVO and DIO, and topped up on DIO today at 8 cents, with plan of getting more in the 7.7 cent issue.

If gold keeps going (and why wouldn't it when the US gov keeps making money out of thin air like it's going out of fashion...), DIO has a good future.

Happy to hear from alternative views.

Process