20121,

I will email Dave Webb today and ask what he is doing with the other $6mln of the $12mln that he has in the bank now, if he's only using $6mln for exploration this year.

Further, if we get a robust positive PA, one that resembles a Pre-Feas., then we may see a valuation of more than $100/oz.

So, let's go crasy and do this to get a share price max in 2008:

$120/oz valuation with a very good PA X 1.8 mln oz anticipated this year / 144.7 mln shares issued=

$1.49 share price.

As you all know, I'm aritmatically challenged. So, someboby check this, please.

B

As you