'07 - $6,583,386
'08 - $6,197,117
1st Q '09 - $2,004,010
27 months = $14,785,513
Discovery cost = $10 per ounce
Minimum new ounces = 1,478,551
"As of the date hereof(May 21, 2009), the Company has not updated its 43-101 documentation for drill results obtained over the last 31 months including the discovery of a series of high grade gold bearing quartz veins located near surface and 1.5 kilometers northeast of the Rice Lake Mill – the aforementioned Hinge Zone. Work on an updated 43-101 document for the Hinge area is underway and expected soon."
Add another quarter of drilling or take it all the way back to October '06 and the $ value for exploration goes even higher.
At minimum, there will be 3 million plus ounces on the complete mine 43101. At which point, majors will line up.
Their strategy calls for 3 million ounces.