Not sure where goldminerpulse is getting its numbers from but they keep popping up here - the numbers look old and the 44.2 M oz. is certainly way higher than what the current drilling and RE has established. All the mining engineers I've talked to in Vancouver say its the drilling that counts, end of story. There may be lots of copper, gold, silver, moly, rhenium in the extra targets, but are the grades as good as the rest, making it economical to mine? This has to be proved by drilling, even if there are pretty aerials to speculate on.

Personally, I don't like in situ valuations and their variants because costs of capex and opex (mining, processing, transportation, etc.) are quite unique to each mine, thus the economics of each mine can be quite different even if they have roughly similar size deposits. I still think the buyout will largely be based on Schaft Creek.

No idea how to value the extra lands Chappy. Sombrero Butte is a different animal than our deposit and its extra lands, but I don't like how little we bought SB for if I compare it to our extra lands, especially when looking at a rough in situ valuation. I agree that the NPV for Schaft will be better than 2008 ... we're all guessing at this point however imo. Elmer has talked about 200,000 TPD - to my mind that is one of the biggest factors in a fast payback and rapid profits. But I still think higher capex than 2008 despite protests otherwise.

Still guessing a $3.50 buyout, but it looks like my Oct. 28th buyout prediction date is fast approaching.