SM,

Agreed fully with the poster's comments on the article.

The resource estimate by Seeking Alpha writer was way out-of-wack. He sounded like Hocking with omissions, underestimates and overly conservative assumptions, e.g the high grade zone is expected to continue way beyond the other shore (including the portion from the shore into the new claim acquired from the lumber folks) and this is simply ignored, and the high grade under the wedge was assumed to be some 0.2Moz. Note that the wedge claim is quite large and wraps around the high grade deposit on the North and East sides, hence potential extension of the high grade zone in this area would yield a lot more than 0.2Moz (as apparently eye-balled by the writer taking into account only the narrow gap in the high grade footprint).

On top of that the lower grades (over 1 gpt) was completely ignored.

As a comparison, the potential resources of Probe Borden Gold deposit is comparable to that of Cote Lake @ a grade of less than 1gpt (while Probe grades are much higher, even PRB lower grade zone has a higher than Cote Lake grade). So, at least PRB should be worth about the same as Cote Lake, say ~ $600M, or ~$7/s, not $5, the offer by G.

goldhunter