haven't done this for a while, but with GM looking like it reaches SGX's Jacobus property... making it about 5km long... it warrants another round just to revisit how undervalued the current share price is... IMHO

Ok.... DISCLAIMER.... these are just the numbers I use... you can mess with these any way you want to your own satisfaction.

Constants
O/S shares 88 million, I like to use 100 million to cover off the outstanding options
Instu Au price... $200
Avg grade 5g/t (just a conservative guess IMHO)
1 oz = 32 grams
Density 2.6 t/m3
Length of GM 5000m
Avg width 2 m (just my opinion based on results for the GM... other veins have been thinner)
Depth of GM 1000m + (just my opinion based on similar greenstone veins in Canada)

GM calculations (ONLY)

Area = Length x Width x Depth
= 5000 x 2 x 1000
= 10,000,000 m3

Tonnage = Area x Density
= 10,000,000 m3 x 2.6 t/m3
= 26,000,000 t

# grams = Tonnage x grade
= 26,000,000t x 5 g/t
= 130,000,000 g
# ozs = 130,000,000/32
= 4,062,500 oz

Instu value = #oz * $200/oz
= 4,062,500 * $200
= $812,500,000

Price/share based on Instu value = $812,500,000/100,000,000
= $8.12/share

So... that is the GM, now what are the chances there are a few more economical veins on their property!!!!

30 targets identified... 10 in active exploration....

I'm comfortable holding this long term going forward.

GLTA - - - do you own DD - - - - these are just sample numbers. Copy them and change them as you see fit.

m.z.