This is only a quick and dirty summary so don't go looking for inconsistencies or you WILL find them :). This isn't meant to be scientific so don't read it if that is what you are looking for.

Penasquito grades from their published resources are:

Oxide Zone -- 0.19g/t AU and 18.8g/t Ag (they won't recover the base metals from heap leaching) so they don't include them. That is about $16/t contained value at current rates.

Sulphide Zone -- 0.51g/t Au, 31.8g/t Ag, 0.34% Pb, 0.75% Zn. That is about $60/t contained value at current rates.

Total reserves and resources ~3 Billion tonnes

CPQ grades from eyeballing the assays (not even an average let alone a weighted average)

Oxide Zone -- ~.6g/t Au, 13g/t Ag. That is about $25.5/t contained value at current rates.

Sulphide Zone-- ~~.5g/t AU, 11g/t Ag, 0.12% Pb, and 0.3% Zn. That is about $32/t contained value at current rates.

Total ballpark wild ass guestimated (BWAG) resource ~ 350 million tonne if the depth holds up and the zone is a vertical cylinder (which we know it isn't). That said we know the surface expression exceeds the drilled area so it a fair BWAG to start with.

So the quick and dirty comparison is that OUR oxides have a value of $25.5 vs $16 and OUR sulphides have a value of $32 vs $60. Throw in the fact that we have just started drilling and they have drilled off the deposit there is lots of room for gains. In term of size we are about a 10th of the size of Penasquito if we project to depth. That to will change as we drill off the surface expression of the deposit.

We are so early in the drilling of this deposit and the property that we need to take a breather and remember we are batting almost a 100% on drill holes in the main zone. I also recall a comment last week about how the diamond drilling hit extensive sections of intrusives and that seemed to be an issue. If the intrusives were not mineralized [and that is purely a Wild Ass Guess (WAG)] then we may see higher grades in the surrounding host rock/breccia zones. Last but not least they have contracted a larger diamond drill capable of greater depths and that can only lead me to believe that they plan or need to be drilling deeper than first two 700m holes.

Hope you enjoyed my quick and dirty pep talk and remember not to hold me to anything I said above :).

.... Been There