BOW, just a thought.
We have been using 1 g/t in all our conservative math, but that may have to change. If the trenching and drilling uncovers new gold bearing veins that are parallel or connect to the already known veins, that will push that average up considerably, depending on what they find. Also, if the trenching finds continuous gold of over 1 g/t over considerable trench lengths, this 1 g/t we are using may become ridiculously low. IMO, this trenching and drilling has the possibilty to put our conservative estimates to double, no problem.
I can,t help but always going back to thinking about Exeter Resources. They have around 25 million ounces of gold in an area one twelth the size of the Tesoro with the highest gold grade that I could find of 3 g/t. Our highest gold grade was over 600 g/t! Thats 200 times more. Exeter uses roughly 1 g/t in figuring their resource, they have to because all their drilling and sampling tells them this is the grade. Everything we have so far is telling us that our grades will be multiples of this.
There is no way around this, our conservative 1 g/t is soon gotta go. I know you will come up with really crazy numbers, but being logical, we will have to go that route pretty soon. Especially if/when a buyout offer comes, we will have to get realistic with our math here so that investors following this forum (which I beleive are the biggest percentage of the shareholders) will have the best idea possible of the worth of Tesoro. IMO, we have the power to vote down a low ball offer and the lowball offer if comes, has to be shown how low ball it is.
We do our numbers like industry would, and its not that hard to get a resource estimate, having said that, IMO, our numbers presented here at that time CAN be relied on and should when trying to get a reasonable $ amount per share.