groovin123 - excellent sleuthing, as usual. Your numbers add up. So Kinross paid $170/oz for gold way way in the bush with no mill or heap leach nearby. In Russia. You laid it all out.

I hope to have published soon a lot of comparative numbers for this deal - way way too busy with gold shows still on - I'm going back there just now. As I mentioned I talked to the principals of the True North deal. There were paid $119.70 per ounce in 1999 when gold was $279/oz. So the idea of paying $120/oz, the 1999 buy-price, for the gold in the Gil should seem patently ridiculous. And not only is the Gil much closer to the heap leach where Kinross wants to blend Gil's higher-grade ore in with low-grade Fort Knox pit ore, the heap leach costs are just above 1/2 of the mill costs that the True North was put through. I believe the number was about $246/oz.

It all adds up, six different ways. Thanks for your excellent post.