It is management's anticipation to split the ROF from the rest of the assets. Any reference to Windfall in today's discussions included the non-ROF properties.

What we would have is a fast track to production company in ROF and a continued exploration company with the non-ROF company.

I agree with the Windfall valuation. It will only take 240,000 ounces of gold (assuming a $200 an ounce processing cost and $600 profit) to reach the $1.26 level for Windfall alone.

At the Sutter mine they have 600,000 inferred ounces in the ground but the difference is they are not at surface and their grades are nowhere near what we have at Windfall (although this is reflected in their share price).. My point being that this area could contain a million ounces of gold with a value of 600M or $5 a share. I would not like to see this given away as a freebie to XStrata if we decide to sell the Chrome to them. Especially given that the gold is easy to mill as the instrastructure is in place nearby.

Thoughts?

M1.