MGV - Long termers, page-6

I agree with your post except regarding the 1 million ounces minimum. It depends on what type of grade you are referring to - if it's the very high grade material (10 grams per tonne), personally I never expected us to find anything like 1 million ozs of this material. Great if we do but by my calcs one million ozs of gold at 10 grams per tonne I expect would be worth around $1 billion to MGV based on a net margin of $1000 per ounce - this is 5 x MGV's current market cap of around $200 million). Even if we get to say 500,000 ounces of this high grade I would expect a significant market rerate and also keen interest from larger miners in the area (with established treatment infrastructure) who would love to get their hands on that amount of 10 gram/tonne shallow ounces.