I was reading another gold play where they value gold in the ground at $25.00 per ounce. This would yield only a value of about 2B dollars for 8M ounces. any thoughts on this. The analyst did say this was conservative but judging by the lack of a rally from the juniors felt it was still appropriate. He said you can go to 50-100$ if you are near production. Just curious why your model seems so much higher.

Glorieux