Let's say we "posture" ourselves into production of Eagle 1. When the 43-101 came out, Eagle 1 was worth about 2.3B dollars. Now, the last grid I had Eagle 1 was worth 1.4B. I think we would not be mining this till summer 2011 at a minimum where inflation may have run up significantly but let's just say we are back to a value of 2B for an easy script. With Eagle1 possibly tripling now with its extension and the 2 new deposits at depth, we are looking at a 6B dollar deposit. Even if we spend 1.5B on infrastructure and produce it at a cost of 1.5B, we still have a profit of 3B over 7 years assuming we can mine it all in 5 years. Our current MC is roughly 100million so I think in the long run, we have nothing to fear by posturing!

Glorieux