John_Doe, you said to Risk is Relative: "Why don't you do some speculative math and tell me how we have came to a share price of 16 cents. This should be interesting."

Over the last year, we have seen the collapse of the junior equities market and St. Elias has been no exception. During this time, Danny Deadlock has tracked the valuation of around 50 junior gold explorers and while valuations have fluctuated, these gold explorers have traded at an average value of between $30.00 and $40.00 per ounce in the ground.

The following is a calculation you may not have considered: As of today, at 16 cents, St. Elias is valued at $4,072.39 per ounce in the ground (18.74mm divided by 4420 ounces). I realize this calculation does not take into account any potential future discoveries or future additions to resource estimates, but the same can be said of the the 50 junior gold explorers above as well.