Brigus Gold Corp. (BRD)

[gharma]

We will see. There are some real differences in your pencilwork and mine, which I assume we both base on the recent financials.

The gold stream is NOT a loan, and they do not make any cash payments on it.

The cost is

0.08 * OZ * (AU - 500) in lost revenue
and
0.08 * OZ * (C - 500) in non-recovered cost of production

where AU is the average saless price for gold during the period
OS is the number of ounces produced in the period,
C is the per ounce cost of production during the period
(and where all production currently comes from areas covered by the stream agreement, which I believe is the case)