Hello Bob,

Perhaps AEM can make an exception this time considering the following

- 5% NSR: some $25 M

- PRB cash: some $20-30M?

- Black Creek: $120M (starting price)

- Borden: about 6M oz in-situ and growing (it could be one of those 10M oz mines)

I was checking out GQC during the last few days and comparing it with PRB. GQC market cap is over $200M for some 1M oz Au equivalent (Au and Cu) plus a potential of an additional (could be large) deposit at Romero from the about half dozen holes with excellent results, but they would need a lot more holed to actually prove that the deposit at Romero is sizable. It's still a guessing game, a gamble in fact, for Romero. It could be a monster or a dud. Now, compared the GQC potential and the stuff at PRB (almost 6M oz Au, plus the rest above) I was not sure which one I should pour my dry powder on, PRB or GQC?

Tough call for this case, but if I were AEM I would scoop up 100% of PRB (why stop at 9%?). What's PRB market cap again, $59M? Let double it (plus a bit more, say $50M, if required to sweeten up the deal) in and offer and and get 6M+oz Au for free.

goldhunter