This is based on Zircon prices at US$850/t and does not include...

This is based on Zircon prices at US$850/t and does not include other heavy minerals- flying under the radar IMO:

"The new resource contains approximately 12.3 million tonnes of heavy minerals, just over 20% of which is zircon."

http://www.gunson.com.au/pdfs/2008-annualreport.pdf

PS: Recent brokers reports suggest zircon prices in 2009 will be at US$900/t therefore increasing GUN's in-ground zircon value at their Coburn Project to US$2.4 billion!

JB