Although the PPS at this moment is a bit disappointing after seeing $1.15 Pre-market, I am confident we will recover pretty soon.
The PR stated proven and probable reserves at 16.86 million ounces at $550 gold. If you refer to the Denver Gold presentation of 2008, slide 7 or 8 ( I forgot) it shows the gold price sensitivty. The slide does not go beyond $700 gold but if one assumes that this trend continues as a straight line and prorate it to a reasonable POG of $950. the reserves would be more like 26 million ounces. At $1,200 it cound be closer to 30 million
On a different subject: with GRZ kicked off the property and having lost their concession, why would they be up $0.20?
Interesting times!
Rob