I was looking at some quick math on this offer. They have just over 8 million ounces of gold in situ. I did not consider any speculation of more than that, they continue to explore and are most likely constantly unofficially adding more ounces. The unofficial offer is around $800 million, or $100 oz per insitu value. At first glance, this price per ounce in the ground seems extremely low for a producer.

To put this in comparison with us, that would equate to about $7 a share for us. Gluckenstein estimated we had over 2 million ounces on Tesoro 2 years ago, and if the drilling shows we may have 8 million ounces with the first drilling and trenching, the sp should rise handsomely.

If we ever get any numbers from Lori to work with here, we can cut down on the speculation and start getting some factual numbers for our gold.