twilight hasn´t answered my question and tried to come up with an evaluation based on his discounted risk model.

What a pity !

But I was happy to hear that he is buying GNH at these prices anyway.

Good for you.

Let me try to apply your very, very, very conservative discounted figures, you have given earlier on: $ 30 / oz.

Unfortunately, we don´t know how many ounces we have now, let alone by Xmas or even in a year from now. So how do I do some calculation without those ?

Is there a discount for NO ounces ? (Just joking !)

Let me use some very, very, very conservative figures from the latest company presentation (slide #8), just the drilled depths so far:

Timmins 1: 23 Mt to 1000m, drilled to 300m -> 23 / 3 = 6.97 Mt

Timmins 2: 8 Mt to 1000m, drilled to 225m -> 8 / 4 = 2.00 Mt

Total known so far = 8.97 Mt

Let´s take the very, very, very conservative 2gpt figure and we get:

8.97 Mt x 2gpt = 17.94 M grams of Au / 32 = 560.625 ounces Au in-situ

560.625 oz. x $ 30 (your figure) = $ 16.8 M marketcap

$ 16.8 M / 129,711,987 shares f/d = $ 0.129 per share !

Uppps !

Sorry, you shouldn´t have bought GNH shares today @ $ 0.54, definitely too much ! LOL

FANTOMAS