In August last year gold spot price was at about $1,200. While most of us were sleeping last night gold spot price rose to about 1,880. That is about a 40% increase since last August. Did the value of our PEM gold in the ground increase by about 40% as well? What is our 1.2m ounces worth today? $1.30 a share? How about the 2m+ ounces we may have by the end of this year? $2.40? Does anyone doubt we'll end up with at least 10m ounces on the OSZ? Might that possibly now be worth $12.00 a share? If we have 20m ounces of economically mineable gold in the ground what's it worth today? 40% more than last August?

Thinking even bigger, two recent M&A's of junior explorers went for $300 and $515 an ounce for in the ground gold. Unusual? Probably. But then again we are in unusual times.