In looking at Trelawney Mining (TRR), they were a $5.00 stock around the same time that CUU was near it's high, along with other junior companies. Before being bought out by Iamgold, they were hovering around $2.30, over 50% down from their highs. This is not that dissimilar to how CUU is currently trading.

Well for one, that buyout was based on INFERRED since they had an indicated of 0.93 million oz gold, and they didn't even have a pre-feasibility.

On February 24, 2012, Trelawney announced an updated mineral resource estimate for Côté Lake, comprising 35 million tonnes at 0.82 g/t gold for 0.93 million ounces of indicated resources and 204 million tonnes at 0.91 g/t gold for 5.94 million ounces of inferred resources.

"The next steps for this project include the preparation of a NI 43-101 technical report by mid-October 2012, which should encompass infill drilling results up to and including early July 2012," added Mr. Stothart. "We expect to begin a pre-feasibility study for this project by the fourth quarter of 2012."