I used more conservative figures than Slug. I massaged the model a little more to arrive at e's

production number of around 250,000ozs/y steady-state with 0.43 ozs/tonnee grade. This amounts to a production cost of ~$250/oz.

$120/tonne cost (due to contract miners?).

$22.5/oz smelter rate

325 days/year operation

$750 gold

96% recovery rate

2008 - ~35,000 ozs

2009 - ~62,000 ozs

2010 - ~113,000 ozs

2011 - ~165,000 ozs

Thereafter steady state at ~250,000 ozs/y.

NPVs come to

$1.36, 15% Discount Rate (where we touched today)

$2.24, 10% Discount Rate (our old high)

$3.25, 7% DR

$4.31, 5% DR