OK, I thought it was 60-65k oz.

Anyway, 100k oz, with proportional costs, $1200 POG and 10% discount rate, means NPV of Lamaque is $218M. Subtract $30M for every -$100 POG below that.

And still, added P&P will boost mine life, meaning addition to NPV (at the end of mine life, so it ends up valued at 30%-40% of today's net gold value) of about $100-$150 or so per ounce added to reserves.

Pretty good, I think.