Reasonable cost for a BFS is approximately $5,000,000

Last 12 months of drilling minimum $10,000,000

I agree about $5,000,000 for the BFS, especially one of this magnitude. At least that is a number I've heard from some mining engineers familiar with projects of this size and scope.

Drill holes - could be $500,000-$1 million a hole depending on depth. Guessing we're towards the higher end as we drill pretty deep usually.

So, where has all the $25 million from EE gone the last year? Late 2011 drilling, RE, 2012 drilling, general expenses and BFS. Seems like a lot of money to burn through, but I guess we'll see some financials again before too long.

EE's got to be going for at least a double or triple on these last PP's. That's low estimate for some of you, I know. Just being conservative as I can jump into lottery thinking all too easily - yes, I have a spreadsheet outlining my exact profits all the way up to double digits buyout price for fun.