In Situ value can leave one staggered very easy, but dont forget it also represents full market value of every pound, ounce or gram of metals in the ground. No ones going to buy those metals off us at full price.

Think....our In Situ is based on gold at $1723/oz. (Closing value Friday)

No ones going to pay $1723 an ounce for that gold, build a mine and then sell it at prevailing commodity prices. Buyouts for metals in the ground occur at a rather steep discount to their market value. Id love to think In Situ would be easy to break down into share price but it just doesnt work that way.

Valuing a mining company is not easy, and its very complex. Also of note is that you will not see a full price on your "Inferred" category of reserves, but you will definately get a fair price for your "Measured" and "Indicated" categories.

Unfortunately the point is that In Situ valuations will have no effect on the actual buyout price. In fact the buyout price will be heavily discounted from our In Situ value.

In Situ only looks at the market value of all the metals contained in the deposit, and again...its hard to classify the "Inferred" category of reserves accurately as it fluctuate quite a bit from what is said, hence why its never bought at the same price as the "Measured" and "Indicated" categories.

Just bringing this up because its not fair to the rookie investors who follow this board to make this assumption, and its a dangerous thing to a rookie who took this the wrong way. Anyone playing the junior miners should realize it is extremely difficult to value a mining company.

Does it make me salivate....yes...but then reality steps in.

I still think we'll see $5-7.

Rogue,