Babjak1,

You alluded to: as resource size/grade of resource/change in spot increases, the PV increases dramatically (partly because fixed costs don't increase for increases in these items).

FYI: In the last feasibility study there were sensitivities to the present value of NOT for things like change in grade of resource/ change in spot price/ change in resource size...Look at the line graphs... You can use these to ballpark value given a different (more current) set of assumptions. You will be suprised how leveraged this calculation is - more grade; more spot price = huge increases in value.

Awhile ago (at the time of the news release), I did a quick calculation using those sensitivities and current information (if i remember correctly the study used average spot rates and some older resource grade estimates). It was awhile ago, but I think my PV was at least 2x what was shown in that feasibility study...

In response to Crazytrade... im not concerned with financing of a mine - this mine will be built by someone other than NOT.