We are moving from being an exploration company to a development story.

Our valuation is no longer based of the minimal prices the market gives to exploration companies.

We will soon have an PEA and the value of our ounces is moving from $30 per ounce to something closer to $100 per ounce.

As fall wanes and becomes winter we will be expecting a new 43-101 and a PEA early next year.

The summer drill program has proven up more ounces and moved some from inferred to indicated.

When we see the new 43-101 we will have a really good idea of what the company will be valued at by the end of the first quarter of next year.

My guess is we see that the 7 million ounce threshold is going to be hit and the valuation will move to that level quickly.

That gives me a short term (late December) target of 4.41 per share.

If our drilling proves up enough ounces that the 7 million ounce level is going to be exceeded, I start looking for the target price to start moving toward the 10 million ounce level and that is 6.36 per share.

We might see an offer for the company just after the 43-101 is released.

Lets hope we get to the 4.00 level before that happens and the offer is a full 50% above that level.

If our 43-101 surprises on the up side....a 5.00 price before an offer is made would be reasonable.