Arequipa was a unique situation. Barrick paid about $150 per ounce in the ground knowing that there was much more gold ... eventually 8.7 million ounces were proven up.

Most deposits sell for less than $100 per ounce. Also keep in mind that technically neither Sage or KXL have gold because there is no resource calculation done.

Sage esp has not drilled a hole (at least results have not been published yet) so could not even do a resource estimate ... having said that a 43-101 is not necessary if the right eyes are looking at it.