Current Market Cap: 98,000,000 shares * $0.58 = $56,840,000

Cash: ~$9,000,000
Mill: ~$10,000,000

NI43-101 Gold
Brookbank: 853,000 ounces
Northern Empire: 50,526 ounces
Total: 903,526 ounces

After we discount $19,000,000 from the market cap (cash and mill),
the market is currently valuing our 903,526 ounces of 43-101 gold
at $37,840,000, or $41.88/ounce (CAD Dollars).

I estimate that the 2009 drilling on Brookbank will add 70,000-100,000
ounces of gold to the Brookbank resource estimate.

Lets look at 4 different scenarios for the Hardrock 43-101:

a) 43-101 of 1,000,000 ounces - add 300,000 ounces to GRC
b) 43-101 of 2,000,000 ounces - add 600,000 ounces to GRC
c) 43-101 of 3,000,000 ounces - add 900,000 ounces to GRC
d) 43-101 of 4,000,000 ounces - add 1,200,000 ounces to GRC

With the outstanding drill results that PG has been turning out I think
that scenario c) or d) are very feasible.

Scenario c)
900,000 ounces from Hardrock + 100,000 from Broobank = 1,000,000 ounces.
Total GRC Ounces: 903,526 + 1,000,000 = 1,903,526 total ounces.
Market currently valuing our gold at $41.88/ounce.
Total New Market Cap: (1,903,526 * 41.88)ounces + $9,000,000 cash + $10,000,000 mill = $98,719,668
Share price: $1.00 (72% increase)

Scenario d)
1,200,000 ounces from Hardrock + 100,000 from Broobank = 1,300,000 ounces.
Total GRC Ounces: 903,526 + 1,300,000 = 2,203,526 total ounces.
Market currently valuing our gold at $41.88/ounce.
Total New Market Cap: (2,203,526 * 41.88)ounces + $9,000,000 cash + $10,000,000 mill = $111,283,668
Share price: $1.13 (95% increase)

These numbers are only going to increase as the drills keep turning and we keep
proving up more ounces, at Brookbank, Northern Empire, Leitch/Sand River, and Hardrock.

Looks like a good buy to me.