I think Fung estimate is correct. You must do your calculations based off of the 250 oz number and not the gold in the ground. Also you will not be-able to calculate the 20 year extension. So you have initial investment plus (250,000 oz x $900) per year minus 60%

1.8 billion + 250 million investment.

2 billion /245milllion shares. $8. a share

Minus bond holders and debts 6$ or 7$ per share.

problems are.

1. Financing. Unless something happens soon. We will have to dilute. In these conditions we will not get good terms. Horrible terms. Maybe 5 cents a share. We all will lose half of our investments in the next 6 months. So $3 to $4

2. Chaves #1 He will not give us a fair price. We will be lucky if we get and offer at all.

3. Chaves #2 He will claim the contract invalid like he is doing with Chevon. Without a settlement I fill we will see this very soon. The man seems to operate in the moment with no long term vision or regard for the law. Given the X factor Chavez we would be lucky to settle between 1 and 2 dollars a share.

Considering we have not be lucky so far my guess is something simular to the lowball offer between Rusoro/GRZ, of something like 25cents to 75cents a share.