• Improved regulatory and tax regime in Kazakhstan
  • Two large gold projects, both with mostly free gold, and each targeting a resource of 2m+ oz gold by early 2020 (4m+ oz total)
  • Kokkus Gold Project
  • Current resource of 197k oz Au (6.3 tonns Au) based on only 5% mineralization length
  • Targeting JORC inferred resource of 1- 2m+ in Q1 2020, upgrade to JORC indicated resource by Q3 2020, and first production in Q4 2021
  • Total resource potential believed to be 5+ million oz Au over 7 separate Au zones
  • Existing power lines on license area
  • East Balkhash / Dzharyk South Gold Project
  • Current JORC Inferred resource of 5.24Mt at 0.933 g/t Au for 158 k oz contained gold, which is only 9% of the area to be drilled to get 1-2m oz Au
  • Targeting a JORC indicated & inferred resource of 1-2moz of oxide Au by early 2020, upgraded to JORC indicated by late 2020, and first production in 2022
  • 73 holes and 4,100m drilled in 2018/19, with 20 of 20 holes drilled in 2019 intersecting gold, targeting oxide resource only
  • Classic porphyry gold model

Use of Proceeds [to be updated]

Comparable Valuations

Based on a review of 34 junior  gold companies with operations focused in central Asian, northeast Asia, eastern Europe, Russia, and Africa, divided into explorer/development stage companies and producing companies.  Share prices as of 30/08/2019

Per share values assume the Company raises US$8 million in pre-IPO funding at a pre-money valuation of US$20 million, and US$20 million at a IPO at a pre-money valuation of US$60 million.  Current number of shares outstanding is [74 million].