Since the 43-101 is valid for resources found up to the middle of February there are yet more unreported ounces in the pipeline.

Someone mentioned that with over 1.2 million proven ounces and 24 million shares outstanding this means 1/20 ounze of gold per share. If we accept the current valuation of proven and probable gold reserves at $170 CAN http://www.munknee.com/2010/02/how-to-value-a-junior-miners-gold-in-the-ground/, then the share price ought to be in the $8.00 range, not counting blue sky potential.