For all those arguing for 3-digit in-situ valuations.

Again, read over my post. What I said was, basically, that if GNH sells this in the future at $150/oz, that $150 is only worth $30-$40/oz TODAY when you discount it and divide it over the total future share count.

Thanks for your comments regarding my post, but:

1. I wasn´t arguing "3-digit-in-situ-valuations", I was talking about $75 / oz. in-situ as an industry average (see Canaccord Genuity etc.).

2. You don´t discount future ounces and share count to today´s situation (if your analyst friend does, give him a hard time!)

Too many variables ! What is the dilution in 1/2/3 years ? Nobody knows !

How many ounces do we have now / in 1/2/3 years ? Nobody knows !

What is the POG in 1/2/3 years ? Nobody knows !

That´s exactly why the big investment firms are scanning the market continously and come up with spreadsheets where all recent buy-outs and marketcaps are summarized, which build the base for an average price per ounce in the ground TODAY !

No discount and variables needed !

You just have to differentiate where your company is operating (possible country risk), but in general, the AVERAGE figure is quite a good starting point.

Depending on the investment house we are talking about an average price between $ 75 to $ 90 per ounce in-situ TODAY !

No pumping, no bashing, just plain facts !

FANTOMAS