Upon further thought, if we had 200 million in the bank to build a mine, we would have to add that back to the valuation of the company....so i did so....the more you think....the more you find....

The valuation after production started would make the numbers for a near term producer apear small.

We need to raise cash for drilling and operations and to build a mill.

So lets say we need $200 million and we raise it at 3.76 per share.

200,000,000 / 3.76 = 53191489 new shares( 53,200,000 rounding up)

136,200,000 + 53,200.000 = 189,400,000 shares

4 million ounces (1/2 resource, 1/4 indicated, 1/4 inferred)

2.00 X 200 + 1.00 X 70 + 1.00 X 60 = 530 million + 200 million in the bank = 730 / 189.4 = 3.85

7 million ounces (1/2 resource, 1/4 indicated, 1/4 inferred)

3.5 X 200 + 1.75 X 80 + 1.75 X 60 = 945 + 200 million in the bank= 1,145 / 189.4 = 6.04 per share

10 million ounces (1/2 resource, 1/4 indicated, 1/4 inferred)

5.0 X 200 + 2.5 X 80 + 2.5 X 60 = 1350 + 200 million in he bank = 1,550/ 189.4 = 8.18 per share