In addition to Osisko, Cote Lake would be a good one to compare with. Iamgold paid $600M for 6.8 Moz of low grade (ave less than 1gpt). PRB has 4.3 Moz with average grade from 1.02 gpt to 1.08 gpt. If cut-off grade was lower, the pit resource estimate would be higher (~6 Moz?) , plus the HGZ (of say, ~ 2.5 Moz).

May be Dave should have a little chat with Iamgold since Borden Gold could be too attractive for it to pass (in the same district with Cote Lake). Iamgold can always team up with another major to have a joint bid, following the example of AEM and Yamana aquisition of Osisko. Another potential suitor could be Gold Corp? We know that AEM has 9.9% of Probe, but it may be too bloated with Osisko.

goldhunter