Well, for the sake of my exercise, I'm going to have to make 5 assumptions. They are as follows:

1) This is continuous belt of quartz with a consistent average grade of gold.

2) This consistent grade is 1g/ton (conservative, I think)

3) GNH will receive $100/oz in the ground. (conservative considering what Osisko and others are currently valued at)

4) The mineralization continues to a depth of 1000m. (this is the company's assumption. I'm not sure about this one.)

5) I am also going to assume a belt "width" of 50m. Conservative.


So, assuming that consistent average gold grade exists throughout the entire 6.2 km "belt" (a big or small leap of faith, depending who you talk to)...

L X W X D(depth)
= 6200m X 50m X 1000m
= 310,000,000 cubic meters

X 2.8 tonnes/cubic meter
= 868,600,000 tonnes

X 1g/tonne
= 868,600,000 g

divided by 31
= 28 million oz of gold

X $100/oz
= 2.8 billion dollars? Hmmm.

divided by
130 million shares
= $21.50/share ???

If we (as we) start turning assumptions into facts... this thing is gonna get crazy.

One thing is for sure (at least in my mind that is):

GNH is a RAGING BUY below a dollar.

Cheers to all,

~snezzer