Hey all, even though nobody took the opportunity to refute my previous calculations or the assumptions used to make them, I will now present a much more conservative outlook, and see where we end up.

My VERY conservative assumptions:

1) From Timmins to Beland there exists a continuous "belt" of quartz/diorite with a consistent average grade of gold of .25g/ton. (could be 3, 4, or higher)

3) GNH will receive $75/oz in the ground (could be upward of $150/oz)

4) The mineralization continues to a depth of 300m. (could be 1000m)

5) I am also going to assume an avg belt "width" of 50m. (could be 500m or more)


L X W X D(depth)
= 6200m X 50m X 300m
= 93,000,000 cubic meters

X 2.8 tonnes/cubic meter
= 260,400,000 tonnes

X .25 g/tonne
= 65,100,000 g

divided by 31
= 2.1 million oz of gold

X $75/oz
= $157,500,000

divided by
130 million shares

= $1.21/share

Anyone? Thoughts? Somebody play devil's advocate. Please.