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Gregory_

12/18/12 1:17 AM

#8553 RE: DAC64 #8550

Which others should we consider?

I expect we will never know if we have a deposit of 30M oz. It will be long gone before that happens, but from a major's standpoint, the choice is obvious.

You cannot determine exact numbers here. It is all speculation. The only thing that you can really determine is that 0.11 / share is low, and the market cap (not necessarily share price) will likely move higher as we prove out the resource.

The only other possibilities I can think of are wildly outlandish, such as bogus financials or mining resources. That seems more unlikely than proving out our resource at this stage.

Consider this:
• Scoping study - +/- 30-40% margin of error
• Pre-feasibility study - +/- 25-30% margin of error
• Feasibility study - +/- 15% margin of error

Seems all of my numbers have a high possibility for margin of error to the positive side and the negative side.