Civi, the value of the MOC currently was pegged at 2 billion plus dollars. This is the figure Fung gave out at the 2009 AGM when asked what our value would be if we went to arbitration.

That was before Rml got their permit for mining throwing out VZ environmental reason for denying our permit.Our arbitration case just got even better with this permit being handed out.

That was before gold got to $1400 an ounce.

The value of the MOC is directly tied to the arbitration case. If you believe we would lose the case then the MOC is worthless. If you think we will only get $500,000 then our MOC is worth $500,000 less note holder payment and legal fees. What ever amount you think we would get in arbitration is the value you should attach to the MOC when you figure out what it is worth to you.

The MOC is worth a lot more with the permit but our percentage of the MOC will be cut to 1/3rd from our current 100%. You have to remember that going to arbitration will cost money so we will have to finance it.

No matter how you look at it the MOC has value even without the permit.

JJ