I in situ value yes youre correct.....however that valuation would not factor in in any buyout.

Enterprise value per oz or per pound (in the case of copper equivalency etc.) is the far more accurate way to value a company. In this case our NPV based on the 2007 RE was 2.7 billion, and I believe when we finish the feasibility we will be higher due to the price of commodities as well as all the new tonnes weve added.

$60 000 000 000 divided by 400 000 000 shares (rounded up) gives me $150/4 (for 25%) for $37.50/share. I would gladly take this but it is not the case.

I stick by my $5.50-$7.50 buyout, and I believe even then its going to more than cover the cost of the true value. A lot of the value here is due to the timing of the copper shortfall and when we can expect to be in production....they should be within a year of each other. That being said, as other deposits will take longer to prove up....our 25% may be worth even more in the eyes of any acquiring producer, especially in the direction current metal values are going.

Rogue,