Think this has been missed by the forum amongst all the share price ups & downs.
http://silverlakeresources.com.au/files/files/267_Argonaut_-_Mt_Monger_site_visit_20111201.pdf
They assign a value of A$36M for the copper in it's initial stages, that would be equivalent to around 5o,ooo tonnes @ their average in ground value of A$720 per tonne of high grade resource.
Drewe.