Jnycat, it is my understanding that GOG has fewer than 40 million shares outstanding. If you do a simple calculation using only the value of the reserves indicated at San Diego I believe you will come to the same conclusion that those buying GOG shares have reached. Speculating on the exploration stories quoted here, in addition to San Diego, would indicate that a GOG share is worth at least 40 cents and probably much more.

An interesting article was quoted here several months ago that postulated a common phenomenon whereby a small miner's shares experienced a significant increase in price during this "exploration" phase followed by a significant price drop until production and cash flow had been achieved. At that point the shares again increased in value commensurate with the company's proven financial viability. At the time this "graphing" was thought to be being followed by ECU shares and we are still waiting for the company's present financial progress to be reflected in the ECU share price. I hold both ECU and GOG shares and still expect to make some money on both.