Northgate Minerals Corp (NXG)

[canadaboybill]

Specs not sure of your math here

<<Using a rough calculation and assuming YD reserves of 3 mil ounces, NXG paid less than $70 per ounce including development costs.>>

They paid $20 million and development is projeccted at $160 million. For 3 million shares, that's $60 per ounce. The price without development was less than $7 an ounce, surely a bargooon in anyone's books.

Also, we won't know reserves until a feasibility is done, likely mid 2008. Till then, we will have resources.