I subscribe to Doody's report and noticed he ran calcs on a junior with similar numbers as Tyhee that I thought was interesting (I won't disclose that junior since it's a paid subscription). However I applied the calcs with today's gold price to Tyhee:

http://www.screencast.com/users/joe128pack/folders/Jing/media/d2d9618f-c35c-48ea-abec-f7fda75a198a

So worst case with only 850k ounces its worth 61 cents/share today. Realistically with the higher gold prices, means we have more economic ounces, so I took a reserve somewhere in the middle @ 1.5MM ounces. Companies get different premiums depending on whether they only have a Feasibility study, they are in construction or in production. I ran those calcs too. If we use the 1.5MM ounces, we come up with a price of $1.37 with only a prefeas-study in hand. If we start construction, we bump up to $3.19/share.

Hang on to those shares.