Initially, I discussed the similarity in size between Tower East and the Bingo Mine and how the resources are lowballed.

This is not exactly a truthful statement. But probably upwards of 60 people viewed these comments without bringing to my attention the more salient details which makes this kind of comparison false.

First off, Tower East is a very low grade deposit with a wide mineralized halo, about 100m. across, averaging about 2g/t.

Bingo, by comparison is only 3m. across in the mineralized halo, so you would need a grade of about ~60g/t to be equivalent in size, to make it ~300k oz. in the same space. Therefore, there is no comparison whatsoever with Tower East and Bingo. The Bingo deposit would have to be like Goldcorp to have those kind of grades.

But things aren't all bad. The grade at Bingo is not "spot on" as it turns out, only lowered purposely so that no mistakes in grade are made. Some of the lower grades are had at the extremities, so to include the entire length of the deposit, including cockrum and quarry showings would bring the grade down somewhat. There would be no error in guessing a grade similar to another mine in the area.

So who to compare with? Claude resources kindly put up a longitudinal section of their Seabee mine, and you can see for yourself how Seabee is a little smaller in its longitudinal section than Bingo. But Bingo's grades are more robust, though these mines are ALMOST IDENTICAL:

Seabee Mine Longitudinal Section - Claude Resources

So its a safe assumption to say that Bingo, by itself is likely to contain at least as many oz., if not a certain percentage more than Seabee, depending on the grade, and will run for some 15 - 20 years. The cross sections on the map are denoted in 200m. grids over the mine. Bingo compares favourably with this cross section. The size is similar, the geology is the same, even the grades can be assumed to be similar, so there would be little error in making this comparison. The company saying they can produce about 75 - 100 oz. is well within their means, with a 1000tpd. mill. We are very fortunate to be able to make a direct comparison like this.

The whole difference between Seabee and Bingo is that Claude got their start in the early 90's, when the gold price was much lower. But now, the gold price is set to rally - and the Bingo mine is about to look a very good prospect for long-term, profitable mine production.

Some other deposits to consider are the Mill Zone deposits, Birch Crossing, RKN + Golden Heart. And now, Komis with the new discovery adjacent. Not a bad growth profile.

Now if you think you're utterly frustrated about how things are going, just have a lengthy look at Eastmain Resources (ER.TO) If any stock should be rocketing, its this one. One thing they neglected to do though, is cross-list on the AMEX. That will bring the share price up.

This is another stock which is being naked shorted into oblivion. But, my contention is that any stock in the gold sector with an overweighted naked short is subject to a market corner eventually, and that the powers that be are betting the farm against a gold price rise and providing liquidity for off balance sheet derivatives and an almost unlimited market for naked shorting of just about anything will eventually collapse.

F6