Tetlom, OVR is a play that i have no problems with for 2011. I...

Tetlom,
OVR is a play that i have no problems with for 2011. I will however assess their resource upgrade announcements and assess their drilling campaign next year. I have a need to be even more diligent in my assessments as we are at the crucial stages of a "possible" discovery and all numbers will need to be put under the wringer.

The resources are there...grades are good and near surface. Numerous satellite deposits are great for the overall life of mine [LOM] and project economics. Metallurgy of Andrew and Darcy is shaping up well. First Nations groups and government of Yukon is on board. No red flags that i can think of other then the underlying commodity price fluctuations.

My estimate is a resource upgrade to 10.5 MT - 12MT, LOM of 8-10 years and a change in NPV to > $200 million [at 8% discount]. I will be happy with those numbers at the end of 2011. With 146 million shares on isse, i feel that the share price should easily rerate to above its recent high of 40cps on those figures. Of course, the firm has already indicated a new exploration campaign happening to other possible deposits around the vicinity...this will be another game changer.